Hubei Kailong Chemical Group Co., Ltd. agreed to acquire a 90% stake in Shandong Kaile Chemical Co., Ltd from Liu Chundou and 21 other persons for CNY 87 million.
December 14, 2020
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Hubei Kailong Chemical Group Co., Ltd. (SZSE:002783) agreed to acquire a 90% stake in Shandong Kaile Chemical Co., Ltd from Liu Chundou and 21 other persons for CNY 87 million on December 15, 2020. The transaction will be financed from Hubei Kailong’s own funds. Shandong Kaile reported total assets of CNY 168 million and Owners’ liabilities of CNY 92.77 million in the year ending on July 31, 2020. The deal was approved by the Board of Directors of Hubei.
HUBEI KAILONG CHEMICAL GROUP CO., LTD. is principally engaged in the manufacture and distribution of industrial explosives. The Company primarily provides modified ammonium nitrate-fuel oil explosives, including modified ammonium nitrate-fuel oil explosives for rocks; expanded ammonium nitrate explosives, including expanded ammonium nitrate explosives for rocks and expanded ammonium nitrate explosives for coal mines; emulsion explosives, including emulsion explosives for rocks and emulsion explosives for coal mines, as well as seismic explosive columns, including seismic explosive columns with low, medium and high detonation velocities, high power seismic explosive columns, emulsion seismic explosive columns and high strength seismic explosive columns. Its products are applied in petroleum, coal, mining, metallurgy, transportation, hydraulic, electric power, construction, national defense and other fields.
Hubei Kailong Chemical Group Co., Ltd. agreed to acquire a 90% stake in Shandong Kaile Chemical Co., Ltd from Liu Chundou and 21 other persons for CNY 87 million.
HUBEI KAILONG CHEMICAL GROUP CO., LTD. 
