Henan Lanxin Property Co., Ltd. cancelled the acquisition of 80% stake in Jiangsu Chuying Meat Processing Co., Ltd. from Chuying Agro-pastoral Group Co., Ltd.
June 29, 2016 at 12:00 am EDT
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Henan Lanxin Property Co., Ltd. entered into a letter of intent to acquire 80% stake in Jiangsu Chuying Meat Processing Co., Ltd. from Chuying Agro-pastoral Group Co., Ltd (SZSE:002477) for CNY 61.2 million on May 28, 2015. Henan Lanxin Property Co., Ltd. entered into an equity transfer agreement to acquire 80% stake in Jiangsu Chuying Meat Processing Co., Ltd. from Chuying Agro-pastoral Group Co., Ltd on June 29, 2015. During the year ended December 31, 2014, Jiangsu Chuying Meat Processing Co., Ltd. had revenue of CNY 31.78 million, net loss of CNY 14.41 million, total assets of CNY 82.53 million, and net asset of CNY 17.66 million. Board of Directors of Chuying Agro-pastoral Group Co., Ltd unanimously approved the transaction on June 29, 2015. The transaction does not require approval from shareholders.
Henan Lanxin Property Co., Ltd. cancelled the acquisition of 80% stake in Jiangsu Chuying Meat Processing Co., Ltd. from Chuying Agro-pastoral Group Co., Ltd (SZSE:002477) on June 29, 2016.
Chuying Agro-Pastoral Group Co Ltd is a China-based company principally engaged in the breeding and distribution of livestock and related products. The Company primarily provides live pig products, including commodity piglets, boars and commodity hogs, as well as livestock products, among others. The Company is also engaged in the distribution of grain, vegetables, frozen products and processed food, as well as the provision of Internet breeding resource platform and other services. The Company mainly distributes its products within domestic markets.
Henan Lanxin Property Co., Ltd. cancelled the acquisition of 80% stake in Jiangsu Chuying Meat Processing Co., Ltd. from Chuying Agro-pastoral Group Co., Ltd.
CHUYING AGRO-PASTORAL CO LTD 
