Hongbaoli Group Corporation, Ltd. cancelled the acquisition to acquire 10% stake in Nanjing Hongbaoli International Trade Co., Ltd from Jiangsu Baoyuan Investment Management Co., Ltd.
June 07, 2019
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Hongbaoli Group Corporation, Ltd. (SZSE:002165) signed an agreement to acquire 10% stake in Nanjing Hongbaoli International Trade Co., Ltd from Jiangsu Baoyuan Investment Management Co., Ltd for CNY 3 million on June 8, 2018. The consideration will be paid in one single installment in cash. Nanjing Hongbaoli International Trade Co., Ltd reported total assets of CNY 93.9 million, net assets of CNY 29.9 million, operating revenue of CNY 318.1 million, operating profit of CNY 0.96 million and net profit of CNY 0.66 million as of December 31, 2017. The transaction has been approved by the Board of Directors of Hongbaoli Group Corporation, Ltd.
Hongbaoli Group Corporation, Ltd. (SZSE:002165) cancelled the acquisition to acquire 10% stake in Nanjing Hongbaoli International Trade Co., Ltd from Jiangsu Baoyuan Investment Management Co., Ltd on June 8, 2019.
Hongbaoli Group Corporation Ltd is a China-based company mainly engaged in the research and development, production and sales of propylene oxide derivatives. The Company is also engaged in the research and development, production and sales of propylene oxide and polyurethane insulation boards. The propylene oxide derivatives include polyurethane rigid foam combination polyether, special polyether and isopropanolamine series products. The Company's products are exported to Asia, Europe, America, Africa and other countries and regions.
Hongbaoli Group Corporation, Ltd. cancelled the acquisition to acquire 10% stake in Nanjing Hongbaoli International Trade Co., Ltd from Jiangsu Baoyuan Investment Management Co., Ltd.
HONGBAOLI GROUP CORPORATION, LTD. 
