Xu Yongkun cancelled the acquisition of 5% stake in Zhejiang Aokang Shoes Co., Ltd. from Aokang Investment Co., Ltd.
August 30, 2019 at 05:00 am
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Xu Yongkun signed a share transfer agreement to acquire 5% stake in Zhejiang Aokang Shoes Co., Ltd. (SHSE:603001) from Aokang Investment Co., Ltd. for approximately CNY 210 million on August 30, 2018. Xu Yongkun will acquire 20.5 million shares of Zhejiang Aokang Shoes Co., Ltd. In a related transaction, Xiang Jinyu signed a share transfer agreement to acquire 9.98% stake in Zhejiang Aokang Shoes Co., Ltd. from Wang Chen. The consideration for both the acquisitions is CNY 624.5 million.
Xu Yongkun cancelled the acquisition of 5% stake in Zhejiang Aokang Shoes Co., Ltd. (SHSE:603001) from Aokang Investment Co., Ltd. on August 30, 2019.
ZheJiang AoKang Shoes Co., Ltd. is a China-based company, principally engaged in the research and development, production, distribution and retailing of leather shoes and other leather products. The Company primarily provides business formal wear shoes, leisure shoes, leather suitcases and wallets, among others. The Company mainly distributes its products under the brand names, including AoKang, KANGLONG, and SKECHERS, among others. The Company distributes its products mainly within domestic markets and to overseas markets.
ZHEJIANG AOKANG SHOES CO.,LTD. 
