Zhejiang Kaisn Fluorochemical Co., Ltd. completed the acquisition of additional 49% stake in Zhejiang kaisn Electronic Materials Co., Ltd from Hangzhou Greenda Electronic Materials Co., Ltd..
August 08, 2022
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Zhejiang Kaisn Fluorochemical Co., Ltd. agreed to acquire remaining 49% stake in Zhejiang kaisn Electronic Materials Co., Ltd from Hangzhou Greenda Electronic Materials Co., Ltd. (SHSE:603931) for approximately CNY 12 million on August 1, 2022. After the completion of the equity transfer Zhejiang kaisn Electronic Materials Co., Ltd will become become a wholly-owned subsidiary of the buyer. as of June 30, 2022, Zhejiang kaisn Electronic Materials reported total revenues of 47.001683 million, Total assets of 55.180667 million, Net income of 0.166591 million and total common equity of 18.745647 million. This transaction has been approved at the 13th meeting of the second board of directors.
Zhejiang Kaisn Fluorochemical Co., Ltd. completed the acquisition of remaining 49% stake in Zhejiang kaisn Electronic Materials Co., Ltd from Hangzhou Greenda Electronic Materials Co., Ltd. (SHSE:603931) on August 9, 2022.
Hangzhou Greenda Electronic Materials Co Ltd is a China-based company principally engaged in the research and development, production and sales of ultra-clean and high-purity wet electronic chemicals. The Company's main products include developer, etchant, diluent and cleaning solution. Its downstream applications are mainly display panels, semiconductors, solar cells, etc., and are mainly used in the manufacturing processes of electronic products such as development, etching, and cleaning. The Company's core product, Tetramethy1 ammonium hydroxide (TMAH) developer, is a key material in the production of Liquid Crystal Display (LCD) and Organic Light-Emitting Diode (OLED) display panels.