Liaoning Oxiranchem,Inc. signed an agreement to acquire 24.24% stake in Suzhou Huayi new energy technology co., LTD. from Gu Hongxia for CNY 40 million.
September 07, 2020
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Liaoning Oxiranchem,Inc. (SZSE:300082) signed an agreement to acquire 24.24% stake in Suzhou Huayi new energy technology co., LTD. from Gu Hongxia for CNY 40 million on September 8, 2020. Liaoning Oxiranchem will also increase the capital of Suzhou Huayi new energy technology with CNY 27.307 million in cash, after the investment is completed, Liaoning Oxiranchem will hold a total of 35% in Suzhou Huayi new energy technology. Suzhou Huayi new energy technology generated the revenues of CNY 93.1 million, operating profit of CNY 9.1 million and net profit of CNY 6.9 million for the year ended December 31, 2019.. As of December 31, 2019, Suzhou Huayi new energy technology has total assets of CNY 158.1 million and owner equity of CNY 75.3 million. The transaction has been approved by the Board of Directors of Liaoning Oxiranchem and does not need to be submitted to the Liaoning Oxiranchem's shareholders meeting for deliberation.
LIAONING OXIRANCHEM, INC is a China-based company principally engaged in the research, manufacture and distribution of ethylene oxide and derivative chemical meterials. The Company's main products include crystalline silicon cutting fluid; polyether monomers, which include polyethylene glycol monomethyl ether, polyoxyethylene alkenyl methyl and polyoxyethylene allyl ether; as well as polyethylene glycol, which are applied as organic composite agents, humectant, lubricant, soften agent, dispersant and others.
Liaoning Oxiranchem,Inc. signed an agreement to acquire 24.24% stake in Suzhou Huayi new energy technology co., LTD. from Gu Hongxia for CNY 40 million.
LIAONING OXIRANCHEM,INC. 
