Shantou Dongfeng Printing Co., Ltd. cancelled the acquisition of 51.06% of Shenzhen Bosheng New Materials Co., Ltd. from Guangdong Xinrui New Material Technology Co., Ltd., Shenzhen Borui Innovation Investment Enterprise (Limited Partnership) and other sellers.
August 28, 2023
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Shantou Dongfeng Printing Co., Ltd. (SHSE:601515) agreed to acquire 51.06% of Shenzhen Bosheng New Materials Co., Ltd. from a group of shareholders for approximately CNY 510 million on October 17, 2022. For the year ended, June 30, 2022, Shenzhen Bosheng New Materials Co., Ltd. tota asset is CNY 370 million. The transaction was approved by 18th meeting of the 4th board of directors, approved by the shareholders meeting of Bosheng New Material and approved by the internal decision-making bodies of Borui Innovation, Ningbo Shuangde, and Boyu Innovation. Transaction still pending China Securities Regulatory Commission's approval of this transaction, general meeting of shareholders to review and approve this transaction plan and the board of directors to review and approve this transaction plan. On January 24, 2022, the Shenzhen Market Supervision and Administration Bureau approved the above changes. As of May 5, 2023, shareholders of Shantou Dongfeng Printing Co., Ltd. approved the acquisition.
Huatai United Securities Co., Ltd. acted as financial advisor, AllBright Law Offices acted as legal advisor and Pan-China Certified Public Accountants LLP acted as accountant to Shantou Dongfeng Printing Co., Ltd.
Shantou Dongfeng Printing Co., Ltd. (SHSE:601515) cancelled the acquisition of 51.06% of Shenzhen Bosheng New Materials Co., Ltd. from a group of shareholders on August 29, 2023.
Guangdong DFP New Material Group Co Ltd, formerly Shantou Dongfeng Printing Co Ltd, is a China-based company mainly engaged in the research and development, design, production and sales of new energy new materials, Class I pharmaceutical packaging materials, printing packaging and other products. The Company's products include new energy separators, PET base films, PVA high barrier films, PVC hard sheets, PVDC hard sheets, pharmaceutical packaging bottles, easy-to-prick aluminum caps, aluminum-plastic combination caps, medicinal SP composite films, and medicinal packaging, aluminum foil, formed stamping composite hard sheets and other product categories.
Shantou Dongfeng Printing Co., Ltd. cancelled the acquisition of 51.06% of Shenzhen Bosheng New Materials Co., Ltd. from Guangdong Xinrui New Material Technology Co., Ltd., Shenzhen Borui Innovation Investment Enterprise (Limited Partnership) and other sellers.