Chacha Food Company, Limited cancelled the acquisition of Hefei Huakang Asset Management Co., Ltd.
July 18, 2017
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Chacha Food Company, Limited (SZSE:002557) signed an agreement to acquire Hefei Huakang Asset Management Co., Ltd. for approximately CNY 220 million on July 19, 2016. The transaction will be financed from excess proceeds. As of July 19, 2016, Hefei Huakang Asset Management Co., Ltd. reported total assets of CNY 209.6 million, owner's equity of CNY 209.5 million. The transaction is approved by board of directors and is subject to approval from shareholders of Chacha Food Co., Ltd.
Chacha Food Company, Limited (SZSE:002557) cancelled the acquisition of Hefei Huakang Asset Management Co., Ltd. on July 19, 2017.
CHACHA FOOD COMPANY, LIMITED is a China-based company principally engaged in the production and distribution of leisure food. The Companyâs main products include traditional roasted products, including sunflower seed series; high-end nut products, including walnuts; baked food, including potato chips, as well as fried food, pickled food, biscuits and agricultural and sideline products, among others. The Company distributes its products under the brand name of ChaCha. The Company distributes its products within domestic market and to overseas markets.
CHACHA FOOD COMPANY, LIMITED 
