Nanjing Red Sun Co.,Ltd. cancelled the acquisition of Chongqing Zhongbang Technology Co., Ltd. from Jiansu Red Sun Pharmaceutical Group Co., Ltd.
December 09, 2019
Share
Nanjing Red Sun Co.,Ltd. (SZSE:000525) agreed to acquire Chongqing Zhongbang Technology Co., Ltd. from Jiansu Red Sun Pharmaceutical Group Co., Ltd. for CNY 1.2 billion on December 11, 2018. Chongqing Zhongbang Technology Co., Ltd. reported a total assets of CNY 229.42 million, net assets of CNY 129.83 million, operating revenue of CNY 98.51 million and net income of CNY 13.3 million for the period ended on December 31, 2017. The transaction has been approved by the board of Nanjing Red Sun Co.,Ltd. and does not require the approval of the shareholders.Jiansu Red Sun Pharmaceutical Group Co., Ltd. promises that Chongqing Zhongbang Technology Co., Ltd. will have a net profit after tax of not less than CNY 64.49 million for the year of 2018, not less than CNY 84.77 for the year of 2019 and not less than CNY 112.14 million for the year of 2020.
Nanjing Red Sun Co.,Ltd. (SZSE:000525) cancelled the acquisition of Chongqing Zhongbang Technology Co., Ltd. from Jiansu Red Sun Pharmaceutical Group Co., Ltd. on December 11, 2019.
NANJING RED SUN CO.,LTD. is a China-based company principally engaged in the manufacture, sale and trading of pesticides and chemical fertilizers. The Companyâs main products consist of pyridine, herbicides, insecticides and bactericides, among others. The Company distributes its products in domestic market and to overseas markets.
NANJING RED SUN CO.,LTD. 
