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    603007   CNE1000030Q3

FLOWER KING ECO-ENGINEERING INC.

(603007)
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Huzhou Xiexing Investment Development Co., Ltd. cancelled the acquisition of 21.8% stake in Flower King Eco-Engineering Inc. from Huawang International Construction Group Co., Ltd.

03/30/2021 EDT

Huzhou Xiexing Investment Development Co., Ltd. signed a Share Transfer Agreement to acquire 21.8% stake in Flower King Eco-Engineering Inc. (SHSE:603007) from Huawang International Construction Group Co., Ltd. for approximately CNY 850 million on November 9, 2020. As per terms of transaction, Huzhou Xiexing Investment Development Co., Ltd. will acquire 73 million shares of Flower King Eco-Engineering Inc. Post completion, controlling shareholder of the Flower King Eco-Engineering Inc. will be changed to Huzhou Xiexing Investment Development Co., Ltd., and the actual controller will be changed to the State-owned Assets Supervision and Administration Commission of the Huzhou Municipal People's Government. The transaction has passed the anti-monopoly review by the State Administration for Market Regulation on the concentration of undertakings. The deal has been reviewed and approved by third extraordinary general meeting of shareholders of Flower King in 2020; the transaction still needs to be approved by the state-owned assets authority. Huzhou Xiexing Investment Development Co., Ltd. cancelled the acquisition of 21.8% stake in Flower King Eco-Engineering Inc. (SHSE:603007) from Huawang International Construction Group Co., Ltd. on March 30, 2021. The approval documents of the state-owned assets authorities have not yet been obtained as of March 30, 2021 and Huzhou Xiexing Investment Development Co., Ltd. gave up subscribing to Flower King's non-public A shares.


ę S&P Capital IQ 2021
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Financials
Sales 2020 572 M 88,9 M 88,9 M
Net income 2020 21,5 M 3,35 M 3,35 M
Net Debt 2020 1 134 M 176 M 176 M
P/E ratio 2020 89,2x
Yield 2020 0,19%
Capitalization 1 030 M 160 M 160 M
EV / Sales 2019 2,38x
EV / Sales 2020 5,05x
Nbr of Employees 590
Free-Float 41,2%
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Managers and Directors
Jiao Jun Xiao Chairman, General Manager & Secretary
Xiao Jun Lin Chief Financial Officer
Ya XIn He Chairman-Supervisory Board
Bin Yuan Independent Director
Ni Feng Independent Director