Guangdong Haihua Investment Group Co., Ltd. completed the acquisition of Sichuan Santai Rural Commercial Bank Co.,Ltd from Zhejiang Renzhi Co., Ltd..
December 22, 2021
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Guangdong Haihua Investment Group Co.,Ltd. and Dong Can agreed to acquire 6.76% stake in Sichuan Santai Rural Commercial Bank Co.,Ltd from Zhejiang Renzhi Co., Ltd. (SZSE:002629) for CNY 115.55 million on June 28, 2021. As of July 13, 2021, For consideration, Zhejiang Renzhi Co., Ltd. will transfer 26,324,627 Shares (4.90% stake), 9,967,364 Shares (1.86% stake) in Sichuan Santai Rural Commercial Bank Co., Ltd. (hereafter Santai Rural Bank) to Guangdong Haihua Investment Group Co., Ltd. (hereafter Haihua Group), Dong Can respectively for CNY 83.81 million and CNY 31.74 million, total of CNY 115.55 million. For the year ended on December 31, 2021, Sichuan Santai Rural Commercial Bank reported total asset of CNY 234133.0101 million, Total shareholders equity of CNY 1710.0751 million, revenue of CNY 694.14 million, operating profit of CN 137.64444 million and net profit of CNY 154.832. The transaction is subject to shareholders approval of Zhejiang Renzhi Co., Ltd. ZTF Securities Co., Ltd. acted as financial advisor, China Commercial Law Firm acted as legal advisor and Moore Stephens Da Hua acted as accountant to ZTF Securities Co., Ltd.
Guangdong Haihua Investment Group Co., Ltd. completed the acquisition of Sichuan Santai Rural Commercial Bank Co.,Ltd from Zhejiang Renzhi Co., Ltd. (SZSE:002629) on December 22, 2021.
Zhejiang Renzhi Co., Ltd., formerly Sichuan Renzhi Oilfield Technology Services Co., Ltd., is a China-based company principally engaged in the provision of oilfield technical services. The Company mainly provides drilling fluid technical services, including drilling fluid deployment, circulation operation and recycling services; oil and gas field environmental protection technical services, including oil and gas field wastewater treatment, waste mud treatment and drilling sewage treatment technology services; underground operation technical services, including underground technical services, production increasing technical services, downhole tools and well completion technical services. The Company is also engaged in the development, production and sales of oilfield chemicals and functional new materials. The Company mainly operates its businesses in the Mainland of China.
ZHEJIANG RENZHI CO., LTD. 