Yineng Investment Co., Ltd. cancelled the acquisition of 51% stake in United Airport City Asset Management Co., Ltd. from Kinghand Industrial Investment Group Co., Ltd..
November 08, 2018
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Yineng (Wuxi) Investment Co., Ltd. signed a stake transfer agreement to acquire 51% stake in United Airport City Asset Management Co., Ltd. from Kinghand Industrial Investment Group Co., Ltd. (SZSE:000615) for CNY 280 million on October 16, 2018. During the financial year ended December 2017, United Airport City Asset Management Co., Ltd. reported total assets of CNY 422.73 million, revenue of CNY 0 and operating loss of CNY 14.2 million. The transaction has been approved by the Board of Directors of Kinghand Industrial Investment Group Co., Ltd. and does not need to be submitted for review to the shareholders’. Jiang Li holding 49% stake in United Airport agreed to this stake transfer and gave up rights of first refusal on United Airport City.
Yineng (Wuxi) Investment Co., Ltd. cancelled the acquisition of 51% stake in United Airport City Asset Management Co., Ltd. from Kinghand Industrial Investment Group Co., Ltd. (SZSE:000615) effective November 9, 2018.
Aoyuan Beauty Valley Technology Co Ltd, formerly Kinghand Industrial Investment Group Co Ltd, is a China-based company principally engaged in the development and sales of real estates. The company mainly operates through two business segments: the Real Estate Development segment and the Chemical Fiber Products segment. The chemical fiber products mainly include viscose filament, pulp, refined cotton and cellophane products. The Company mainly operates its businesses in the domestic and overseas markets.
Yineng Investment Co., Ltd. cancelled the acquisition of 51% stake in United Airport City Asset Management Co., Ltd. from Kinghand Industrial Investment Group Co., Ltd..
AOYUAN BEAUTY VALLEY TECHNOLOGY CO.,LTD. 
