Suzhou Kingswood Education Technology Co., Ltd. completed the acquisition of Henan Maotan Senior High School Co., Ltd. from Hangzhou Chaolin Education Technology Co., Ltd.
April 31, 2021
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Suzhou Kingswood Education Technology Co., Ltd. (SZSE:300192) entered into n agreement to acquire 60% stake in Henan Maotan Senior High School Co., Ltd. from Hangzhou Chaolin Education Technology Co., Ltd. for CNY 30 million on March 19, 2021. On the day of submission and acceptance of the industrial and commercial application materials for Henan Maotan Senior High School's equity change, Suzhou Kingswood Education Technology shall pay CNY 10 million, within one week after the transfer materials are confirmed by all parties, Suzhou Kingswood Education Technology will pay CNY 17 million and according to the operating needs of Henan Maotan Senior High School, Suzhou Kingswood Education Technology will then choose the opportunity to invest CNY 3 million. After the foregoing payment is fully realized, Suzhou Kingswood Education Technology holds 60% stake and Hangzhou Chaolin Education Technology Co., Ltd. holds 40% stake in Henan Maotan Senior High School. When the net profit of Henan Maotan Senior High School exceeds CNY 10 million, Suzhou Kingswood Education Technology will purchase part of the remaining shares of Henan Maotan Senior High School held by Hangzhou Chaolin Education Technology, and the specific purchase ratio and terms shall be separately agreed by both parties. The transaction has been approved by Suzhou Kingswood Education Technology's Chairman.
Suzhou Kingswood Education Technology Co., Ltd. (SZSE:300192) completed the acquisition of Henan Maotan Senior High School Co., Ltd. from Hangzhou Chaolin Education Technology Co., Ltd. on April 1, 2021.
Suzhou Kingswood Education Technology Co Ltd, formerly Suzhou Kingswood Printing Ink Co Ltd, is a China-based company principally engaged in the research, development, production and sale of printing offset inks. The Company's main products include high-gloss offset inks, high-wear offset inks, quick-drying high-gloss offset inks and other offset inks. The Company owns brand names of Dongwu Inks and Kingswood. The Company's products are mainly used in food, electronics, cosmetics and chemical industries. The Company distributes its products in domestic market and to overseas markets, such as the United States, Europe and India.
Suzhou Kingswood Education Technology Co., Ltd. completed the acquisition of Henan Maotan Senior High School Co., Ltd. from Hangzhou Chaolin Education Technology Co., Ltd.