Suqian Xinxing Investment Co., Ltd. cancelled the acquisition of Stake in 4 Companies and Early Childhood Education Assets from Jiangsu Xiuqiang Glasswork Co., Ltd..
June 11, 2020
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Suqian Xinxing Investment Co., Ltd. signed the asset sale agreement to acquire Stake in 4 Companies and Early Childhood Education Assets from Jiangsu Xiuqiang Glasswork Co., Ltd. (SZSE:300160) for approximately CNY 280 million on June 12, 2019. Consideration to be paid in cash. For the year ended December 31, 2018, 4 Companies and Early Childhood Education Assets has total assets of CNY 755.5673 million, net assets of CNY 423.138 million. In 2018, 4 Companies and Early Childhood Education Assets has revenue of CNY 410.2183 million and net loss of CNY 429.4489 million. The transaction is subject to approval from Jiangsu Xiuqiang Glasswork Co., Ltd. shareholders. On June 12, 2019, Jiangsu Xiuqiang Glasswork Co., Ltd. held its 4th directorate’s 7th meeting and its 4th supervisory board’s 7th meeting and approved the transaction.
Suqian Xinxing Investment Co., Ltd. cancelled the acquisition of Stake in 4 Companies and Early Childhood Education Assets from Jiangsu Xiuqiang Glasswork Co., Ltd. (SZSE:300160) June 12, 2020.
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.
Suqian Xinxing Investment Co., Ltd. cancelled the acquisition of Stake in 4 Companies and Early Childhood Education Assets from Jiangsu Xiuqiang Glasswork Co., Ltd..