Lihong Investment Holdings Co., Ltd. completed the acquisition of 50% of Luyin Group Yucheng Cashmere Textile Co., Ltd. from Luyin Investment Group Co.,Ltd.
February 21, 2023
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Lihong Investment Holdings (Shandong) Co., Ltd. entered into an agreement to acquire 50% of Luyin Group Yucheng Cashmere Textile Co., Ltd. from Luyin Investment Group Co.,Ltd. for CNY 11.79 million on December 12, 2022. The transaction was approved by Luyin Investment Group Co., Ltd. 38th meeting of the tenth board of directors on July 22, 2022.
Lihong Investment Holdings (Shandong) Co., Ltd. completed the acquisition of 50% of Luyin Group Yucheng Cashmere Textile Co., Ltd. from Luyin Investment Group Co.,Ltd. on February 22, 2023.
Luyin Investment Group Co Ltd is a Chinese company mainly engaged in salt and new materials business. The Company operates its business through the Powders and Products Segment, Salt Industry Segment, Textile Industry Segment, Commerce and Trading Segment and New Energy Segment. The Company's salt products include table salt and domestic salt, industrial salt, and bromine. The products are mainly used in edible and food processing, alkali industrial salt, printing and dyeing, and tanning industries. The Company's main new material products are reduction series, water atomized series steel powder and high-performance alloy special powder materials. The products are mainly used in automobiles, motorcycles, home appliances and other industries.
Lihong Investment Holdings Co., Ltd. completed the acquisition of 50% of Luyin Group Yucheng Cashmere Textile Co., Ltd. from Luyin Investment Group Co.,Ltd.
LUYIN INVESTMENT GROUP CO.,LTD. 
