Jiangsu Yoke Technology Co., Ltd. agreed to acquire remaining 10% stake in Chengdu Kemeite Special Gas Co., Ltd. from Lai Minggui and Lai Mingfu for approximately CNY 150 million.
May 25, 2020
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Jiangsu Yoke Technology Co., Ltd. (SZSE:002409) agreed to acquire remaining 10% stake in Chengdu Kemeite Special Gas Co., Ltd. from Lai Minggui and Lai Mingfu for approximately CNY 150 million on May 26, 2020. As per terms of transaction Jiangsu Yoke Technology Co., Ltd. will acquire 9.7% stake from Lai Minggui and 0.3% stake from Lai Mingfu. Consideration will be in cash. Post completion, Jiangsu Yoke Technology Co., Ltd. will hold 100% stake in Chengdu Kemeite Special Gas Co., Ltd. for the year ended March 31, 2020, Chengdu Kemeite Special Gas Co., Ltd. reported total assets of CNY 964.5408 million, Net assets of CNY 885.4562 million, net profit of CNY 13.9042 million, Revenue of CNY 48.784 million and EBIT of CNY 16.3881 million.
Jiangsu Yoke Technology Co., Ltd is a China-based company principally engaged in the research, development, production and sale of organic phosphate flame retardants and other rubber and plastic aids. The Companyâs main products portfolio consists of flame retardants for engineering products, flame retardants for polyurethane and others. The Company's flame retardants are mainly applied in chemical materials, carpets, raincoats, textile products and rubber products. The Company also provides tin salts, silicon oil and amine products, silicone surfactant for polyurethane, as well as catalysts for polyurethane and others. The Company distributes its products in domestic markets and to overseas markets.
Jiangsu Yoke Technology Co., Ltd. agreed to acquire remaining 10% stake in Chengdu Kemeite Special Gas Co., Ltd. from Lai Minggui and Lai Mingfu for approximately CNY 150 million.
JIANGSU YOKE TECHNOLOGY CO., LTD. 
