Renmin Tianli Group, Inc. acquired Chongqing Kangduo Commercial Trade Co., Ltd. from Qian Wang and Zhongli Xiong for CNY 47.1 million.
May 01, 2018
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Renmin Tianli Group, Inc. (NasdaqCM:ABAC) entered into an agreement to acquire Chongqing Kangduo Commercial Trade Co., Ltd. from Qian Wang and Zhongli Xiong for CNY 47.1 million on September 20, 2017. Under the terms, Zhongli Xiong will sell 60% stake whereas Qian Wang will sell 40% stake. The consideration included CNY 18 million cash and 2 million shares of Renmin Tianli Group, Inc. wherein CNY 10.8 million cash and 1.2 million shares will be paid to Zhongli Xiong and CNY 7.2 million cash and 0.8 million shares will be paid to Qian Wang. The payment will be completed within twenty working days after signing of the agreement. As a result of the acquisition, Renmin Tianli Group, Inc. will indirectly hold 10% stake in Youyang County Jinzhu Forestry Development Co. Ltd.
Renmin Tianli Group, Inc. (NasdaqCM:ABAC) completed the acquisition of Chongqing Kangduo Commercial Trade Co., Ltd. from Qian Wang and Zhongli Xiong on April 30, 2018.
BIQI INTERNATIONAL HOLDINGS formerly CORPRenmin Tianli Group, Inc., is a holding company. The Company is engaged in hog farming. The Company conducts its hog breeding operations through Wuhan Fengze Agricultural Science and Technology Development Co., Ltd. (Fengze), a subsidiary of Wuhan Aoxin Tianli Enterprise Investment Management Co., Ltd., its wholly foreign owned enterprise, or WFOE, and its subsidiaries, Hubei Tianzhili Breeder Hog Co., Ltd. (Tianzhili), and Hubei Tianzhili (Hefeng) Breeder Hog Co., Ltd (Hefeng). The Company operates in two segments: Hog Farming and Retail. It utilizes various purebred hogs at its farms. The primary purebred varieties that it utilizes are the Yorkshire, Landrace and Duroc. It breeds both purebred and cross-bred hogs in order to attain desirable traits in the hogs produced in its farms. It is engaged in the sales of specialty processed black hog meat through the Internet. It sells its products under its Xiduhei trademark.
BIQI INTERNATIONAL HOLDING CORPORATION 
