Dalian Refrigeration Co., Ltd. completed the acquisition of 29.2% stake in Changzhou Jingxue Freezing Equipment Co.,Ltd. from Jiangsu Jingxue Industry and Trade Industrial Co., Ltd. and Changzhou Jingxue Investment Management Co., Ltd.
July 29, 2015 at 05:00 am
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Dalian Refrigeration Co., Ltd. (SZSE:200530) agreed to acquire 29.2% stake in Changzhou Jingxue Freezing Equipment Co.,Ltd. from Jiangsu Jingxue Industry and Trade Industrial Co., Ltd. and Changzhou Jingxue Investment Management Co., Ltd. for CNY 130 million on July 7, 2015. Under the terms of the deal, Dalian Refrigeration will acquire 25% equity held by Jiangsu Jingxue Industry and Trade Industrial for CNY 111.255 million, and 4.212% equity held by Changzhou Jingxue Investment Management for CNY 18.745 million. The deadline of the payment paid is within 45 days after the new business license issued.
As of 2014, Changzhou Jingxue Freezing Equipment had total assets of CNY 658.93 million, total liability of CNY 363.95 million, total account receivable of CNY 218.96 million, business revenue of CNY 524.27 million, operating profit of CNY 51.99 million and net profit of CNY 49.97 million. On July 7, 2015, the transaction was approved by Board of Directors of Dalian Refrigeration. The transaction does not need to be approved by shareholders of Dalian Refrigeration. The effective date of the transaction is the approval date for examination and approval. Beijing Zhonghuake Capital Rating Co., Ltd. acted as valuer for Dalian Refrigeration.
Dalian Refrigeration Co., Ltd. (SZSE:200530) completed the acquisition of 29.2% stake in Changzhou Jingxue Freezing Equipment Co.,Ltd. from Jiangsu Jingxue Industry and Trade Industrial Co., Ltd. and Changzhou Jingxue Investment Management Co., Ltd. on July 29, 2015.
Jiangsu Jingxue Insulation Technology Co Ltd is a China-based company principally engaged in the research and development, design, production and sales of energy-saving and thermal insulation materials for cold storage enclosure systems. The Company's products include metal surface energy-saving thermal insulation sandwich panels and cold storage doors, industrial building doors, lifting platforms and other supporting products. The Company's products are mainly used in cold chain logistics, food processing, shopping mall, supermarket, hotel and aviation catering, biopharmaceutical, fine chemicals and precision electronics industries.
Dalian Refrigeration Co., Ltd. completed the acquisition of 29.2% stake in Changzhou Jingxue Freezing Equipment Co.,Ltd. from Jiangsu Jingxue Industry and Trade Industrial Co., Ltd. and Changzhou Jingxue Investment Management Co., Ltd.