Zhongzai Resource and Environment Co., Ltd. agreed to acquire 60% stake in Yunnan Julu Environmental Protection Technology Co., Ltd. from Hubei Xingfeng Metal Resources Co., Ltd. for CNY 28.8 million.
August 13, 2017
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Zhongzai Resource and Environment Co., Ltd. (SHSE:600217) agreed to acquire 60% stake in Yunnan Julu Environmental Protection Technology Co., Ltd. from Hubei Xingfeng Metal Resources Co., Ltd. for CNY 28.8 million on August 11, 2017. As of December 31, 2016, Yunnan Julu Environmental Protection Technology reported total assets of CNY 100.1 million, net assets of CNY 11.7 million, revenue of CNY 37.9 million, and net loss of CNY 15.5 million. The transaction has been approved at the 42nd meeting of the 6th directorate of Zhongzai Resource and Environment Co., Ltd. and does not need its shareholders’ approval.
Zhongzai Resources and Environment Co., Ltd., formerly Shaanxi Qinling Cement (Group) Co., Ltd. is a China-based company principally engaged in the development, recycling, processing and sale of available resources. The Company is also involved in the wholesale of general merchandise, knitwear, daily groceries, furnitures, hardware, chemical products, construction materials, mineral products, as well as plastic products, among others. The Company mainly operates its business in domestic market.
Zhongzai Resource and Environment Co., Ltd. agreed to acquire 60% stake in Yunnan Julu Environmental Protection Technology Co., Ltd. from Hubei Xingfeng Metal Resources Co., Ltd. for CNY 28.8 million.
CHINA RESOURCES AND ENVIRONMENT CO.,LTD. 
