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    000890   CNE0000007T7

JIANGSU FASTEN COMPANY LIMITED

(000890)
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Shenzhen Huijin Chuangzhan Commercial Factoring Co., Ltd. signed a share transfer agreement to acquire Shanghai Moses Factoring Co. Ltd. from Jiangsu Fasten Company Limited for approximately CNY 400 million.

02/05/2020 EST

Shenzhen Huijin Chuangzhan Commercial Factoring Co., Ltd. signed a share transfer agreement to acquire Shanghai Moses Factoring Co. Ltd. from Jiangsu Fasten Company Limited (SZSE:000890) for approximately CNY 400 million on February 3, 2020. Under the term, Shenzhen Huijin Chuangzhan Commercial Factoring will pay 30% of the transfer price amounting to CNY 120.84 million will be paid within 10 working days from the effective date of the equity transfer agreement and the remaining 70% of the transfer price amounting to CNY 281.97 million will be paid within 12 months from the effective date of the equity transfer agreement. The transaction is subject to Jiangsu Fasten Company Limited's shareholders’ approval. The transaction was approved by the board of directors of Jiangsu Fasten Company Limited on the the 27th session of the company’s 9th directorate held on February 3, 2020. The transaction was approved by the board of Shenzhen Huijin Chuangzhan Commercial Factoring. As of March 27, 2020, shareholder of Jiangsu Fasten Company Limited approved the transaction. AJ Securities Co., Ltd. acted as a financial advisor, DeHeng Law Offices acted as a legal advisor and Jiangsu Gongzheng Tianye Certified Public Accountants Co Ltd acted as an accountant to Jiangsu Fasten Company Limited.


ę S&P Capital IQ 2020
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Financials
Sales 2020 467 M 73,1 M 73,1 M
Net income 2020 16,0 M 2,50 M 2,50 M
Net Debt 2020 386 M 60,4 M 60,4 M
P/E ratio 2020 71,3x
Yield 2020 -
Capitalization 2 089 M 327 M 327 M
EV / Sales 2019 5,36x
EV / Sales 2020 3,39x
Nbr of Employees 348
Free-Float 47,2%
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Managers and Directors
Yue Zhang Chairman & General Manager
Ling Zhou Chief Financial Officer & Director
Fang Yu Ji Chairman-Supervisory Board
Hui Zhou Independent Director
Ming Hui Li Independent Director
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