Limin Chemical Co., Ltd. cancelled the acquisition of 70% stake in Shandong Damin Chemical Co., Ltd. from Chen Guojian, Wu Gang, Hu Jiangyu, and Wang Shulin.
November 18, 2018
Share
Limin Chemical Co., Ltd. (SZSE:002734) agreed to acquire 70% stake in Shandong Damin Chemical Co., Ltd. from Chen Guojian, Wu Gang, Hu Jiangyu, and Wang Shulin for approximately CNY 110 million on June 28, 2017. Under the terms of the transaction, Chen Guojian, Wu Gang, Hu Jiangyu, and Wang Shulin will transfer 25%, 30%, 10% and 5% respectively. Shandong Damin Chemical Co., Ltd. reported total assets of CNY 88.7 million, net assets of CNY 78.7 million, revenue of CNY 86.5 million, operating profit of CNY 19.5 million, and net profit of CNY 14.6 million. The transaction is subject to shareholders’ approval of Limin Chemical Co., Ltd. The transaction has been approved at the 19th meeting of the 3rd directorate of Limin Chemical Co., Ltd.
Limin Chemical Co., Ltd. (SZSE:002734) cancelled the acquisition of 70% stake in Shandong Damin Chemical Co., Ltd. from Chen Guojian, Wu Gang, Hu Jiangyu, and Wang Shulin on November 19, 2018.
Limin Group Co., Ltd., formerly Limin Chemical Co., Ltd., is a China-based company principally engaged in the research, development, production and sales of pesticides and preparations. The Company mainly provides germicide products, including mancozeb, cymoxanil, fosetyl-aluminum and pyrimethanil, among others. It also provides pesticides such as thiacloprid and other formulations, and herbicides such as mesotrione. The Company distributes its products within domestic market and to overseas markets.
Limin Chemical Co., Ltd. cancelled the acquisition of 70% stake in Shandong Damin Chemical Co., Ltd. from Chen Guojian, Wu Gang, Hu Jiangyu, and Wang Shulin.
LIMIN GROUP CO.,LTD. 
