Jiangyin Yatong Investment Co., Ltd. completed the acquisition of 70.97% stake in Xinjiang Aidi New Energy Technology Co., Ltd. from Jiangsu Sihuan Bioengineering Co., Ltd and Jiangyin Sihuan Investment Co., Ltd.
January 17, 2017 at 04:00 am
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Jiangyin Yatong Investment Co., Ltd. agreed to acquire 70.97% stake in Xinjiang Aidi New Energy Technology Co., Ltd. from Jiangsu Sihuan Bioengineering Co., Ltd (SZSE:000518) and Jiangyin Sihuan Investment Co., Ltd. for CNY 11 million on December 2, 2015. Jiangsu Sihuan Bioengineering Co., Ltd will sell 44.12% stake for CNY 6.8 million and Jiangyin Sihuan Investment Co., Ltd. will sell 26.85% stake for CNY 4.2 million. Jiangyin Yatong Investment Co., Ltd. entered into an agreement to acquire 70.97% stake in Xinjiang Aidi New Energy Technology Co., Ltd. from Jiangsu Sihuan Bioengineering Co., Ltd and Jiangyin Sihuan Investment Co., Ltd. on September 29, 2016.
Xinjiang Aidi New Energy Technology Co., Ltd. reported total assets of CNY 193.57 million, net assets of CNY 139.59 million, revenue of CNY 0, operating loss of CNY 50.66 million and net loss of CNY 52.16 million for the year ending December 31, 2014. The transaction was approved by the Board of Jiangsu Sihuan Bioengineering Co., Ltd on December 2, 2015 and September 29, 2016. The shareholders of Jiangsu Sihuan Bioengineering disapproved the deal on December 24, 2015. The shareholders of Jiangsu Sihuan Bioengineering approved the deal on December 19, 2016.
Jiangyin Yatong Investment Co., Ltd. completed the acquisition of 70.97% stake in Xinjiang Aidi New Energy Technology Co., Ltd. from Jiangsu Sihuan Bioengineering Co., Ltd (SZSE:000518) and Jiangyin Sihuan Investment Co., Ltd. on January 17, 2017.
JIANGSU SIHUAN BIOENGINEERING CO., LTD is a China-based company principally engaged in the research, development, manufacture and distribution of medicines and health supplements. The Companyâs main products include interleukin, erythropoietin (EPO), granulocyte colony-stimulating factor (G-CSF), tablets, bulk drugs, infusion glass bottles, soft bag infusion, syrup and healthcare products, among others. The Company is also engaged in landscape engineering, maintenance projects, the sale of nursery stocks and other businesses. The Company distributes its products in domestic market and to overseas markets.
Jiangyin Yatong Investment Co., Ltd. completed the acquisition of 70.97% stake in Xinjiang Aidi New Energy Technology Co., Ltd. from Jiangsu Sihuan Bioengineering Co., Ltd and Jiangyin Sihuan Investment Co., Ltd.
JIANGSU SIHUAN BIOENGINEERING CO., LTD 
