Shindoo Chemi-Industry Co.,Ltd cancelled the acquisition of an additional 29% stake in Chengdu Tuboshi Chemical Co., Ltd. from Guangzhou Fangyuan Co., Ltd.
January 08, 2015 at 04:00 am
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Shindoo Chemi-Industry Co.,Ltd (SZSE:002539) signed an equity transfer agreement to acquire an additional 29% stake in Chengdu Tuboshi Chemical Co., Ltd. from Guangzhou Fangyuan Co., Ltd. for CNY 5.8 million on January 8, 2014. Shindoo Chemi-Industry will use its internal funds of CNY 5.8 million for the acquisition. Following the completion of the deal, Shindoo Chemi-Industry will hold 80% stake in Chengdu Tuboshi Chemical Co. For the year ending December 31, 2013, Chengdu Tuboshi Chemical Co., Ltd. reported total assets of CNY 25.25 million, total liabilities of CNY 12.04 million, net assets of CNY 13.21 million, sales of CNY 94.59 million, operating profit of CNY 3.04 million and net profit of CNY 2.28 million. The Board of Directors of Shindoo Chemi-Industry Co.,Ltd. approved the transaction on January 8, 2014. The transaction does not need the approval of the stockholders of Shindoo Chemi-Industry Co.
Shindoo Chemi-Industry Co.,Ltd (SZSE:002539) cancelled the acquisition of an additional 29% stake in Chengdu Tuboshi Chemical Co., Ltd. from Guangzhou Fangyuan Co., Ltd. on January 8, 2015.
Chengdu Wintrue Holding Co., Ltd., formerly Shindoo Chemi-Industry Co. Ltd, is a China-based holding company. The Company is principally engaged in the research, production and distribution of compound fertilizers and flavorings. The Company primarily provides compound fertilizers, combined alkali, ammonium chloride, salts, monoammonium phosphate (MAP), as well as flavorings, among others. The Company's compound fertilizers include water soluble compound fertilizers, urea based compound fertilizers, chlorine based compound fertilizers, organic and inorganic compound fertilizers, nitryl compound fertilizers and others. The Company is also involved in the provision of electronic commerce services in small and medium cities. The Company distributes its products primarily in domestic markets.
Shindoo Chemi-Industry Co.,Ltd cancelled the acquisition of an additional 29% stake in Chengdu Tuboshi Chemical Co., Ltd. from Guangzhou Fangyuan Co., Ltd.
CHENGDU WINTRUE HOLDING CO., LTD. 
