Sichuan Rongxin Hongzi Technology Co., Ltd completed the acquisition of 9.82% stakes in Anhui Xinke New Materials Co.,Ltd from Khorgos Chuanshan Culture Media Co., Ltd.
December 27, 2022
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Sichuan Rongxin Hongzi Technology Co., Ltd signed a share trasnfer agreement to acquire 9.82% stakes in Anhui Xinke New Materials Co.,Ltd (SHSE:600255) from Khorgos Chuanshan Culture Media Co., Ltd. for CNY 510 million on August 18, 2022. Sichuan Rongxin Hongzi Technology Co., Ltd will acquire 176.959400 million shares at a prce of CNY 2.88 per share representing 9.82% stakes. The trasnaction is subject to approval by regulatory board /committee. Transaction is expected to close on December 31, 2022, otherwise the agreement will be automatically terminated and Chuanshan Culture must unconditionally and fully refund the payment to the designated account of Sichuan Rongxin according to the time limit required by Sichuan Rongxin.
Sichuan Rongxin Hongzi Technology Co., Ltd completed the acquisition of 9.82% stakes in Anhui Xinke New Materials Co.,Ltd (SHSE:600255) from Khorgos Chuanshan Culture Media Co., Ltd. on December 28, 2022.
Anhui Xinke New Materials Co Ltd, formerly Kingswood Enterprise Co Ltd, is a China-based company, principally engaged in the research and development, production and sales of copper and copper alloy strips, wires, radiation cross-linked cables and special cables, among others. The Company is also engaged in movie and television business. The Company distributes its products within domestic markets and to overseas markets, including countries from Southeast Asia and Europe and America.
Sichuan Rongxin Hongzi Technology Co., Ltd completed the acquisition of 9.82% stakes in Anhui Xinke New Materials Co.,Ltd from Khorgos Chuanshan Culture Media Co., Ltd.
ANHUI XINKE NEW MATERIALS CO.,LTD 
