Wenzhou Guanhui Enterprise Management Co., Ltd. signed an equity transfer agreement to acquire 27.5% stake in Wenzhou Dongtou District Sincerity Microfinance Co., Ltd. from Zhejiang Cheng Yi Pharmaceutical Co., Ltd. for CNY 24.4 million.
March 23, 2021
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Wenzhou Guanhui Enterprise Management Co., Ltd. signed an equity transfer agreement to acquire 27.5% stake in Wenzhou Dongtou District Sincerity Microfinance Co., Ltd. from Zhejiang Cheng Yi Pharmaceutical Co., Ltd. (SHSE:603811) for CNY 24.4 million on March 23, 2021. As per terms of transaction, Wenzhou Guanhui Enterprise Management Co., Ltd. will acquire 22 million shares of Wenzhou Dongtou District Sincerity Microfinance Co., Ltd. As on December 31, 2020, Wenzhou Dongtou District Sincerity Microfinance Co., Ltd. reported revenue of CNY 8.4 million, operating profit of CNY 8.5 million, net profit CNY 7.9 million, total assets of CNY 96.9 million and Net assets of CNY 96.3 million. The transaction is subjected to approval from financial regulatory authority. Transaction is approved by the Board of Zhejiang Cheng Yi Pharmaceutical Co., Ltd. The transaction is expected to close by April 30, 2021.
Zhejiang Cheng Yi Pharmaceutical Co., Ltd is a China-based company principally engaged in the research, development, production and sales of bulk pharmaceutical chemicals of chemical medicine and preparations. The Companyâs products are on the spectrum from arthritis, dieresis to anti-virus and anti-tumor. The main products include bulk pharmaceutical chemicals, injections, capsules, intermediates and others.
Wenzhou Guanhui Enterprise Management Co., Ltd. signed an equity transfer agreement to acquire 27.5% stake in Wenzhou Dongtou District Sincerity Microfinance Co., Ltd. from Zhejiang Cheng Yi Pharmaceutical Co., Ltd. for CNY 24.4 million.