Yi Xiangping, Song Jie and Song Chao completed the acquisition of an additional 13.8% stake in Dirui Industrial Co.,Ltd. from Jinjiang Ruifa Investment Co., Ltd.
November 29, 2020
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Yi Xiangping, Song Jie and Song Chao signed an agreement to acquire an additional 13.8% stake in Dirui Industrial Co.,Ltd. (SZSE:300396) from Jinjiang Ruifa Investment Co., Ltd. for approximately CNY 870 million on August 24, 2020. Yi Xiangping will acquire 20.9 million shares accounting for 7.59% stake for CNY 478 million, Song Jie will acquire 13.3 million shares accounting for 4.83% for CNY 304 million and Song Chao will acquire 3.8 million shares accounting for 1.38% stake for CNY 86.9 million. On November 19, 2020, Yi Xiangping, Song Jie agreed to acquire an additional 13.8% stake in Dirui Industrial Co.,Ltd. from Jinjiang Ruifa Investment Co., Ltd. Yi Xiangping will acquire 20.84 million shares accounting for 7.59% and Song Jie will acquire 17.14 million accounting fir 6.21% stake. Yi Xiangping and Song Jie shall pay the share transfer amount of CNY 478.04 million and CNY 391.13 totaling a total of CNY 869.17 million, in cash transfer within 60 working days from the date when Yi Xiangping and Song Jie are in the name, the share transfer funds shall be paid in full to the bank account designated by Jinjiang Ruifa Investment Co., Ltd. In related transactions, Guangdong Guanghengshun Investment Co., Ltd. signed an equity transfer agreement to acquire 12% stake in Dirui Industrial Co.,Ltd. from Jinjiang Ruifa Investment Co., Ltd. for approximately CNY 760 million and Shenzhen Huade Xinrun Equity Investment Enterprise (Limited Partnership) entered into an equity transfer agreement to acquire 28% stake in Dirui Industrial Co.,Ltd. from Jinjiang Ruifa Investment Co., Ltd. for CNY 1.8 billion. Prior to the transaction, Song Jie held 15.7 million shares accounting for 5.7% stake and after the transaction, Song Jie will hold 29 million shares amounting to 10.53% stake. Jinjiang Ruifa Investment Co., Ltd. will hold no stake in Dirui Industrial Co.,Ltd. upon completion of the transactions. The transaction still needs to be approved by the Anti-Monopoly Bureau of the State Administration for Market Regulation and related equity transfer matters need to obtain confirmation opinions from the Shenzhen Stock Exchange.
Yi Xiangping, Song Jie and Song Chao completed the acquisition of an additional 13.8% stake in Dirui Industrial Co.,Ltd. (SZSE:300396) from Jinjiang Ruifa Investment Co., Ltd. on November 30, 2020.
DIRUI INDUSTRIAL CO.,LTD is a China-based company principally engaged in the research, development, production and sale of medical testing equipment and supporting test paper and reagents. The Company's main products include urine analysis series, urinary composition analysis series, biochemical analysis series and blood cell analysis series. The Company's products are used for routine physical examination and diagnosis of illness. The Company distributes its products in domestic market and to overseas markets.
Yi Xiangping, Song Jie and Song Chao completed the acquisition of an additional 13.8% stake in Dirui Industrial Co.,Ltd. from Jinjiang Ruifa Investment Co., Ltd.
DIRUI INDUSTRIAL CO.,LTD. 
