Jiangsu Xiuqiang Glasswork Co., Ltd. cancelled the acquisition of remaining 34.7% stake in Jiangsu Tongmeng Early Childhood Education Information Consultancy Co., Ltd. from Xinyu Xiangyi Children's Education Service Consultancy Partnership Enterprise (Limited Partnership).
October 09, 2019
Share
Jiangsu Xiuqiang Glasswork Co., Ltd. (SZSE:300160) agreed to acquire remaining 34.7% stake in Jiangsu Tongmeng Early Childhood Education Information Consultancy Co., Ltd. from Xinyu Xiangyi Children's Education Service Consultancy Partnership Enterprise (Limited Partnership) for CNY 35 million on October 10, 2018. Jiangsu Xiuqiang Glasswork Co., Ltd. intends to use self-raised funds to pay consideration. Post completion, Jiangsu Xiuqiang Glasswork Co., Ltd. will hold 100% stake in Jiangsu Tongmeng Early. During the financial year ended December 2017, Jiangsu Tongmeng Early reported total assets of CNY 115.43 million, net assets of CNY 44.03 million, revenue of CNY 61.84 million and net profit of CNY 14.7 million. The transaction has been approved by the Board of Jiangsu Xiuqiang Glasswork Co., Ltd.
Jiangsu Xiuqiang Glasswork Co., Ltd. (SZSE:300160) cancelled the acquisition of remaining 34.7% stake in Jiangsu Tongmeng Early Childhood Education Information Consultancy Co., Ltd. from Xinyu Xiangyi Children's Education Service Consultancy Partnership Enterprise (Limited Partnership) on October 10, 2019.
Jiangsu Xiuqiang Glasswork Co., Ltd. is a China-based company principally engaged in the deep processing of glass and operation, management of kindergartens. The Company operates through two main segments. The Deep Processing of Glass segment is mainly involved in the research, development, manufacture and sales of deep processing glass products which include appliance glass, household glass, photovoltaic glass and cover plate glass of display screens. The Operation and Management of Kindergartens segment is mainly involved in the acquisition of kindergartens and provision of integrated solution plans for kindergartens.
Jiangsu Xiuqiang Glasswork Co., Ltd. cancelled the acquisition of remaining 34.7% stake in Jiangsu Tongmeng Early Childhood Education Information Consultancy Co., Ltd. from Xinyu Xiangyi Children's Education Service Consultancy Partnership Enterprise (Limited Partnership).
JIANGSU XIUQIANG GLASSWORK CO., LTD. 
