Zhu Yonggen, Miao Huawei, and Wang Baorong signed a equity transfer agreement to acquire Shaoxing Sanda New Materials Co., Ltd. from Sanlux Co.,Ltd and Zhejiang Sanda Industrial Fabrics Co., Ltd. for CNY 67 million.
March 03, 2021
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Zhu Yonggen, Miao Huawei, and Wang Baorong signed a equity transfer agreement to acquire Shaoxing Sanda New Materials Co., Ltd. from Sanlux Co.,Ltd (SZSE:002224) and Zhejiang Sanda Industrial Fabrics Co., Ltd. for CNY 67 million on February 23, 2021. As per terms, Sanlux Co.,Ltd and Zhejiang Sanda Industrial Fabrics Co., Ltd. will transfer 77.27% and 22.73% of their respective shares in Shaoxing Sanda New Materials Co., Ltd. for CNY 51.8 million and CNY 15.2 million respectively. The deposit and advance payment of CNY 30 million will be offset. The buyers still need to pay CNY 21.7 million Sanlux Co.,Ltd and Zhejiang Sanda's transfer amount of CNY 15.2 million before March 10, 2021. Post completion, Zhu Yonggen, Miao Huawei, and Wang Baorong will hold 50%, 25% and 25% stake in Shaoxing Sanda New Materials Co., Ltd. respectively. As of January 31, 2021, total asset, net asset, revenue, operational loss and net loss was CNY 56.1 million, CNY 51.9 million, CNY 0, CNY 0.2 million and 0.2 million respectively.
Sanlux Co., Ltd is a China-based company, principally engaged in the manufacture and distribution of rubber V-belts, conveyor belts, synchronous belts and others. The Company's main products include industrial V-belts, agricultural V-belts, automotive V-belts, conveyor belts and industrial synchronous belts. Its products are applied in industry, agriculture, automobile manufacturing and other fields. The Company distributes its products within domestic market and to overseas markets.
Zhu Yonggen, Miao Huawei, and Wang Baorong signed a equity transfer agreement to acquire Shaoxing Sanda New Materials Co., Ltd. from Sanlux Co.,Ltd and Zhejiang Sanda Industrial Fabrics Co., Ltd. for CNY 67 million.
SANLUX CO.,LTD 
