Kuaijishan Shaoxing Rice Wine Co., Ltd. cancelled the acquisition of Zhejiang Jinggong Agricultural Development Co., Ltd.
March 18, 2020
Share
Kuaijishan Shaoxing Rice Wine Co., Ltd. (SHSE:601579) agreed to acquire Zhejiang Jinggong Agricultural Development Co., Ltd. for CNY 98 million on March 19, 2019. The consideration will be paid in cash in one single installment within 5 days since signing of the relevant agreement. As of December 31, 2018, Zhejiang Jinggong Agricultural Development reported total assets of CNY 123 million and owners’ equity of CNY 67 million. For the year ended December 31, 2018, Zhejiang Jinggong Agricultural Development reported operating revenues of CNY 29.5 million and net loss of CNY 5.3 million. The transaction has already been approved by the 14th meeting of the 4th directorate of Kuaijishan Shaoxing Rice Wine.
Kuaijishan Shaoxing Rice Wine Co., Ltd. (SHSE:601579) cancelled the acquisition of Zhejiang Jinggong Agricultural Development Co., Ltd. on March 19, 2020.
Kuaijishan Shaoxing Rice Wine Co., Ltd., formerly Kuaijishan Shaoxing Wine Co., Ltd. is a China-based company principally engaged in the Chinese spirit business. The Company mainly operates its business through research and development (R&D), production and sale of Shaoxing yellow spirits. The Companyâs products portfolio consists of midrange and high-end bottled Shaoxing yellow spirits, ordinary bottled Shaoxing yellow spirits and bottled Shaoxing yellow spirits base liquors, among others. The Company provides its products under the brand name of Kuajishan. It distributes its products within domestic market and to overseas markets, including Japan, Singapore, Hong Kong, Macau and others.
KUAIJISHAN SHAOXING RICE WINE CO., LTD. 
