Guangdong Piano Customized Furniture Co., Ltd. agreed to acquire remaining 40% stake in Henan Hengda Piano Home Furnishing Co., Ltd. from Henan Hengda Home Furnishing Industrial Park Co., Ltd for CNY 79.2 million.
August 25, 2021
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Guangdong Piano Customized Furniture Co., Ltd. (SZSE:002853) agreed to acquire remaining 40% stake in Henan Hengda Piano Home Furnishing Co., Ltd. from Henan Hengda Home Furnishing Industrial Park Co., Ltd for CNY 79.2 million on August 24, 2021. Under the terms of transaction, Guangzhou Evergrande Material Equipment Co., Ltd., Shenzhen Evergrande Material Equipment Co., Ltd., Dalian Dongfang Shengdu Land Co., Ltd., Dalian Hengke Real Estate Co., Ltd will pay CNY 79.2 million to Guangdong Piano Customized Furniture Co., Ltd. Henan Hengda Piano Home Furnishing reported total assets of CNY 1 billion and total common equity of CNY 241.3 million till June 30, 2021.
Guangdong Piano Customized Furniture Co Ltd is a China-based company specialized in the research and development, design, production, sales and installation of customized cabinets, wardrobes, wooden doors and other supporting home products, as well as providing after-sales service. The Company's main products include custom-made overall cabinets, overall wardrobes, overall bookcases, overall wine cabinets, overall shoe cabinets, wooden doors, tatami mats and their home accessories. The Company's products are applied in kitchens, bedrooms, study rooms, guest restaurants and children's rooms. The Company mainly distributes its products within domestic market.
Guangdong Piano Customized Furniture Co., Ltd. agreed to acquire remaining 40% stake in Henan Hengda Piano Home Furnishing Co., Ltd. from Henan Hengda Home Furnishing Industrial Park Co., Ltd for CNY 79.2 million.
GUANGDONG PIANO CUSTOMIZED FURNITURE CO., LTD. 
