Sichuan Datong Gas Development Co., Ltd. cancelled the acquisition of 80% stake in Suzhou Tianhong Gas Co., Ltd. from Jinhong Holding Group Co., Ltd..
May 05, 2020
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Sichuan Datong Gas Development Co., Ltd. (SZSE:000593) signed stake transfer agreement to acquire 80% stake in Suzhou Tianhong Gas Co., Ltd. from Jinhong Holding Group Co., Ltd. (SZSE:000669) for approximately CNY 140 million on May 6, 2019. Transaction will be financed from Sichuan Datong Gas Development Co., Ltd. own funds. For the year ended December 31, 2018, Suzhou Tianhong Gas Co., Ltd has total assets of CNY 143.6 million, net assets of CNY 74 million, revenue of CNY 309 million, total profit of CNY 29 million and net profit of CNY 22.2 million. Transaction is subject to shareholders approval of Sichuan Datong Gas Development Co.,Ltd. and is approved by Board of Sichuan Datong Gas Development Co.,Ltd.
Sichuan Datong Gas Development Co., Ltd. (SZSE:000593) cancelled the acquisition of 80% stake in Suzhou Tianhong Gas Co., Ltd. from Jinhong Holding Group Co., Ltd. (SZSE:000669) on May 6, 2020.
Delong Composite Energy Group Co Ltd, formerly Sichuan Datong Gas Development Co Ltd, is a China-based company principally engaged in the supply of clean energy. The Company's principal businesses include the supply of city pipeline gas, the transportation, distribution and sales of liquid natural gas (LNG), as well as the investment and operation of distributed energy. The Company mainly operates its business in Sichuan and Jiangxi provinces, the Peopleâs Republic of China (PRC).
DELONG COMPOSITE ENERGY GROUP CO., LTD. 
