Li Weiming signed equity transfer agreement to acquire Guangdong Dongtong Stationery Co., Ltd. from Shantou Wanshun Package Material Stock Co., Ltd.for CNY 96.8 million.
January 17, 2019
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Li Weiming signed equity transfer agreement to acquire Guangdong Dongtong Stationery Co., Ltd. from Shantou Wanshun Package Material Stock Co., Ltd. (SZSE:300057)for CNY 96.8 million on January 16, 2019. Within ten days after the signing of this agreement, Li Weiming will pay CNY 15 million in equity transfer in cash, before December 31, 2019, it will pay another CNY 34.5 million and before December 31, 2020, it will pay another CNY 47.32 million. Guangdong Dongtong Stationery reported total assets of CNY 54.6 million, operating profit of CNY 2.6 million, net profit of CNY 1.97 million and net assets of CNY 33.03 million for the year ending, December 31, 2018. Transaction has been approved by the Board of Shantou Wanshun Package Material Stock Co., Ltd. and does not require shareholders’ approval.
Shantou Wanshun New Material Group Co., Ltd. formerly SHANTOU WANSHUN PACKAGE MATERIAL STOCK CO., LTD. is a China-based company principally engaged in the research, development, manufacture and distribution of paper packaging materials, aluminum foil and functional film. The Company's main products consist of transfer paper, composite paper, high-precision aluminum foil, conductive film and energy saving film, among others. The Company distributes its products in domestic market and to overseas markets.
Li Weiming signed equity transfer agreement to acquire Guangdong Dongtong Stationery Co., Ltd. from Shantou Wanshun Package Material Stock Co., Ltd.for CNY 96.8 million.
SHANTOU WANSHUN NEW MATERIAL GROUP CO., LTD. 
