Huang Yixian completed the acquisition of 5% stake in GuangDong SongYang Recycle Resources CO.,LTD from Wang Zhuangpeng and Cai Jiantao.
June 15, 2023
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Huang Yixian agreed to acquire 5% stake in GuangDong SongYang Recycle Resources CO.,LTD (SHSE:603863) from Wang Zhuangpeng and Cai Jiantao for CNY160 million on May 24, 2023. Within 5 working days from signing of the agreement, the buyer shall pay first installment amounting to CNY5 million by bank transfer to the bank account designated by the sellers. Upon sellersâ receipt of the transaction approval from the Shanghai Stock Exchange, within 5 working days, the buyer shall pay second installment amounting to CNY25 million by bank transfer to the bank account designated by the sellers. Upon completion of transferring of shares to the buyers at the China Securities Depository and Clearing Corporation Limited, within 5 working days, the buyer shall pay third installment amounting to CNY90 million by bank transfer to the bank account designated by the sellers. Upon completion of transferring of shares to the buyers at the China Securities Depository and Clearing Corporation Limited, within 30 working days, the buyer shall pay the remaining balance amounting to CNY41.3 million by bank transfer to the bank account designated by the sellers. This is subject to approval by the Shanghai Stock Exchange.
Huang Yixian completed the acquisition of 5% stake in GuangDong SongYang Recycle Resources CO.,LTD (SHSE:603863) from Wang Zhuangpeng and Cai Jiantao on June 16, 2023.
Guangdong Songyang Recycle Resources Co., Ltd. is a China-based company principally engaged in the research and development, production and sales of environmentally friendly recycled paper. The Company's main product is gray-coated whiteboard paper, and owns two brands of gray-coated whiteboard paper named Yuyang and Meiyang. The Company's products are mainly used in express packaging, toy packaging, home appliance packaging, food packaging and clothing packaging and other fields. In addition, through its subsidiaries, The Company is also engaged in specialty paper trading business. The Company mainly distributes its products to Guangdong and Fujian, China.