Aoyuan Capital signed a share transfer contract to acquire 50% stake in Guangdong Jinao Commercial Factoring Co., Ltd. from Kingfa Sci. & Tech. Co., Ltd. for CNY 760 million.
April 25, 2022
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Aoyuan Capital signed a share transfer contract to acquire 50% stake in Guangdong Jinao Commercial Factoring Co., Ltd. from Kingfa Sci. & Tech. Co., Ltd. (SHSE:600143) for CNY 760 million in November 2021. As on January 22, 2022, Kingfa Sci signed the Debt Repayment Framework Agreement with Aoyuan Capital, Aoyuan Group and Guangdong Jinao Commercial.
KINGFA SCI. &TECH.CO., LTD. is a China-based company principally engaged in the research, development, production and sales of new chemical materials. The Company's main products include modified plastics, biodegradable plastics, high-performance carbon fibers and composite materials, special engineering plastics, environmentally friendly high-performance recycled plastics and others. Its products are mainly applied in automotive, household appliances, modern agriculture, rail transportation, aerospace, high-end equipment, new energy, communications, electrical and electronic, as well as building decoration industries. The Company distributes its products in domestic market and to overseas markets.
Aoyuan Capital signed a share transfer contract to acquire 50% stake in Guangdong Jinao Commercial Factoring Co., Ltd. from Kingfa Sci. & Tech. Co., Ltd. for CNY 760 million.
KINGFA SCI. & TECH. CO., LTD. 
