Qinghai Linhang Trading Co., Ltd., completed the acquisition of 9.88% stake in Qinghai Jintai Potash Fertilizer Co., Ltd. from Shenzhen Sunrise New Energy Co., Ltd. for approximately CNY 510 million.
December 29, 2022
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Sichuan Xinjinlu Group Co., Ltd. (SZSE:000510) entered into an agreement to acquire 9.88% stake in Qinghai Jintai Potash Fertilizer Co., Ltd. from Shenzhen Sunrise New Energy Co., Ltd. (SZSE:002256) for CNY 501.59 million on March 31, 2022. A deposit of CNY 50 million shall be paid within 5 working days from the date when the board of directors of both parties approves and signs the proposal of this agreement.10% of the equity transfer payment shall be paid within 5 working days from the date when the shareholders meeting of both parties and the target company approves the proposal to sign this agreement and the equity is in a transferable state;40% of the equity transfer payment should be paid within 60 days after completing the industrial and commercial change registration procedures;The remaining 50% of the equity transfer payment should be paid before December 31, 2022.
Qinghai Linhang Trading Co., Ltd., completed the acquisition of 9.88% stake in Qinghai Jintai Potash Fertilizer Co., Ltd. from Shenzhen Sunrise New Energy Co., Ltd. (SZSE:002256) for approximately CNY 510 million on December 30, 2022. Sichuan Xinjinlu Group Co., Ltd. signed the General Transfer Agreement of Contract Rights and Obligations transferred all the rights and obligations stipulated in the original Equity Transfer Agreement to Qinghai Linhang Trading Co., Ltd.
Shenzhen Sunrise New Energy Co., Ltd., formerly SHENZHEN RAINBOW FINE CHEMICAL INDUSTRY CO., LTD., is a China-based company principally engaged in the research, development and production of fine chemical and new materials. The Company's products include environmental protection coatings and excipients, green household products, environment friendly energy-saving products for automobiles, as well as biodegradable materials. The Company is also involved in the photovoltaic power generation and the production of indoor environmental treatment products. The Company operates its business in domestic and overseas markerts.
Qinghai Linhang Trading Co., Ltd., completed the acquisition of 9.88% stake in Qinghai Jintai Potash Fertilizer Co., Ltd. from Shenzhen Sunrise New Energy Co., Ltd. for approximately CNY 510 million.