Guangxi Fenglin Wood Industry Group Co., Ltd. signed a share transfer agreement to acquire Anhui Dongdun Wood Co., Ltd. from Jiangsu Dongdun Wood Group Co., Ltd. and Xuancheng Gaoli Artificial Board Co., Ltd. for approximately CNY 180 million.
September 23, 2017
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Guangxi Fenglin Wood Industry Group Co., Ltd. (SHSE:601996) signed a framework agreement to acquire Anhui Dongdun Wood Co., Ltd. from Jiangsu Dongdun Wood Group Co., Ltd. and Xuancheng Gaoli Artificial Board Co., Ltd. on September 24, 2017. Guangxi Fenglin Wood Industry Group Co., Ltd. (SHSE:601996) signed a share transfer agreement to acquire Anhui Dongdun Wood Co., Ltd. from Jiangsu Dongdun Wood Group Co., Ltd. and Xuancheng Gaoli Artificial Board Co., Ltd. for approximately CNY 180 million on November 26, 2017. Jiangsu Dongdun Wood Group Co., Ltd. and Xuancheng Gaoli Artificial Board Co., Ltd. will transfer 70% stake and 30% stake respectively. For the year ended December 31, 2016, Anhui Dongdun Wood Co., Ltd. reported total assets of CNY 226.2 million, net assets of CNY 157.5 million, revenue of CNY 250.7 million, operating loss of CNY 19.9 million, and net loss of CNY 9.5 million. The deal has been approved in the 16th meeting of Guangxi Fenglin Wood Industry Group's 4th directorate held on September 24, 2017. The transaction was approved by the 18th meeting of the 4th directorate of Guangxi Fenglin Wood Industry Group Co., Ltd. on November 26, 2017 and does not need its shareholders’ approval.
Guangxi Fenglin Wood Industry Group Co., Ltd is a China-based company, principally engaged in the manufacture and sales of artificial boards. Its artificial boards mainly include fiber boards, plywood and shaving boards. The Company's fiber boards are mainly applied in furniture, wood floor buildings, decorations, middle and high cars and ship fitments, handicraft products, high grade loudspeaker boxes, instruments and electronics, among others. Its shaving boards are applied in furniture manufacture, interior finishing and architectural ornament. The Company is also engaged in forest management and restoration business, including growing trees planting, stock growing, as well as woods and stocks distribution.
Guangxi Fenglin Wood Industry Group Co., Ltd. signed a share transfer agreement to acquire Anhui Dongdun Wood Co., Ltd. from Jiangsu Dongdun Wood Group Co., Ltd. and Xuancheng Gaoli Artificial Board Co., Ltd. for approximately CNY 180 million.
GUANGXI FENGLIN WOOD INDUSTRY GROUP CO.,LTD 
