Hongbaoli Group Corporation, Ltd. signed an agreement to acquire additional 10% stake in Nanjing Hongbaoli Alcohol Amine Chemical Co., Ltd from Jiangsu Baoyuan Investment Management Co., Ltd. for CNY 73.8 million.
June 08, 2018
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Hongbaoli Group Corporation, Ltd. (SZSE:002165) signed an agreement to acquire additional 10% stake in Nanjing Hongbaoli Alcohol Amine Chemical Co., Ltd from Jiangsu Baoyuan Investment Management Co., Ltd. for CNY 73.8 million on June 8, 2018.
Nanjing Hongbaoli Alcohol Amine Chemical reported revenues of CNY 615.99 million, total assets of CNY 343.16 million, operating profit of CNY 78.08 million, net income of CNY 68.74 million and net assets of CNY 253.73 million on December 31, 2017. The 18th meeting of the 8th directorate of Hongbaoli Group approved the deal.
Hongbaoli Group Corp Ltd is a China-based company mainly engaged in the research and development, production and sales of chemical raw materials and products. The Company's main products include polyurethane rigid foam combination polyether, special polyether, isopropanolamine series products and other propylene oxide derivatives, as well as propylene oxide, diisopropylbenzene peroxide, dipropylene glycol and polyurethane insulation board. The Company's products are mainly used in refrigerators, freezers, refrigerated containers, building exterior wall insulation, tank insulation, cleaning agents, desulfurizers in oil and gas refining, pharmaceutical pesticide intermediates, propylene diamine, titanium dioxide, electronic cleaning, metal cutting, cement admixtures, curing agents, new energy and other industries. The Company mainly conducts its businesses in domestic and overseas markets.
Hongbaoli Group Corporation, Ltd. signed an agreement to acquire additional 10% stake in Nanjing Hongbaoli Alcohol Amine Chemical Co., Ltd from Jiangsu Baoyuan Investment Management Co., Ltd. for CNY 73.8 million.