Guangdong Hongda Blasting Co.,Ltd. completed the acquisition of 43.1% stake in Inner Mongolia Ji'an Chemical Co., Ltd. from a group of shareholders.
March 30, 2021
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Guangdong Hongda Blasting Co.,Ltd. (SZSE:002683) entered into an agreement to acquire 43.1% stake in Inner Mongolia Ji'an Chemical Co., Ltd. from a group of shareholders for approximately CNY 650 million on March 18, 2021. As part of the agreement, Chifeng Pingmei Investment Co., Ltd. will transfer additional 3.07% stake in Inner Mongolia Ji'an Chemical Co., Ltd. through public listing, and Guangdong Hongda Blasting Co.,Ltd. will bid not more than CNY 45.98 million for it. Inner Mongolia Ji'an Chemical reported total assets of CNY 799.6 million, total liabilities of CNY 446.8 million, net assets of CNY 296.8 million as on December 31, 2020, revenue of CNY 730.1 million, operating cost of CNY 611 million, total profit of CNY 135.6 million and net profit of CNY 96.4 million in 2020. This transaction has been approved in the 1st Meeting of 2021 of the Guangdong Hongda Blasting's 5th Directorate, and does not need the shareholders’ approval.
Guangdong Hongda Blasting Co.,Ltd. (SZSE:002683) completed the acquisition of 43.1% stake in Inner Mongolia Ji'an Chemical Co., Ltd. from a group of shareholders in March, 2021.
Guangdong Hongda Holdings Group Co Ltd, formerly Guangdong HongDa Blasting Co Ltd, is a China-based holding company mainly engaged in mine blasting business. The Company's main businesses are the production and sales of mining engineering services, civilian blasting equipment and defense equipment. The Company provides services such as mine infrastructure stripping, mine construction, overall blasting program design, blasting mining, mineral sub-packaging and transportation. The Company's main products are industrial explosives, industrial detonators, fuses, missile weapon systems, intelligent ammunition equipment and individual combat equipment and others.
GUANGDONG HONGDA HOLDINGS GROUP CO., LTD. 
