Changchun High-tech City Construction Investment Co., Ltd. signed relevant equity purchase and sale agreement to acquire Jilin Yatai Pharmaceutical Industrial Park Management Co., Ltd. from Jilin Yatai Co., Ltd. for CNY 2.3 billion.
June 03, 2020
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Changchun High-tech City Construction Investment (Group) Co., Ltd. signed relevant equity purchase and sale agreement to acquire Jilin Yatai Pharmaceutical Industrial Park Management Co., Ltd. from Jilin Yatai (Group) Co., Ltd. (SHSE:600881) for CNY 2.3 billion on June 2, 2020. Payment for the 100% stake in Jilin Yatai Pharmaceutical Industrial Park Management Co., Ltd. will be done in one single installment within 10 days since signing of the agreement. For the year ended December 31, 2019, Jilin Yatai Pharmaceutical Industrial Park Management Co., Ltd. from reported total assets of CNY 762.5 million, total common equity of CNY 462.4 million, total revenues of CNY 14.4 million and net income of CNY 1.4 million. The transaction is subject to the approval of the shareholders of Jilin Yatai (Group) Co., Ltd. The first interim supervisory committee of Jilin Yatai (Group) Co., Ltd. unanimously reviewed and approved the transaction.
JILIN YATAI (GROUP) CO., LTD. is a China-based company, principally engaged in building materials business and real estate business. The Company is also engaged in pharmaceuticals business and coal business. The Company's main businesses include mining exploitation, cement production, real estate development, property management, and the research and development, production and sales of pharmaceuticals. The Company conducts its businesses mainly in domestic markets.
Changchun High-tech City Construction Investment Co., Ltd. signed relevant equity purchase and sale agreement to acquire Jilin Yatai Pharmaceutical Industrial Park Management Co., Ltd. from Jilin Yatai Co., Ltd. for CNY 2.3 billion.
JILIN YATAI (GROUP) CO., LTD. 
