Nanfang Zhongjin Environment Co., Ltd. signed an agreement to acquire 96.6% stake in Zhejiang Jintailai Environmental Protection Co., Ltd from a group of shareholders for CNY 1.8 billion.
December 10, 2017
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Nanfang Zhongjin Environment Co., Ltd. (SZSE:300145) signed an agreement to acquire 96.6% stake in Zhejiang Jintailai Environmental Protection Co., Ltd from a group of shareholders for CNY 1.8 billion on December 8, 2017. For the year ended December 31, 2016, Zhejiang Jintailai Environmental Protection Co., Ltd reported total assets of CNY 304.9 million, net assets of CNY 171.8 million, revenue of CNY 102.3 million, operating profit of CNY 50.2 million and net profit of CNY 55.5 million. This transaction needs approval from the shareholders of Nanfang Zhongjin Environment Co., Ltd. On December 26, 2017, shareholders of Nanfang Zhongjin Environment Co., Ltd. approved the transaction.
Nanfang Zhongjin Environment Co., Ltd., formerly Nanfang Pump Industry Co., Ltd., is a China-based company principally engaged in the research, development, manufacture and distribution of centrifugal pumps and other water supply equipment. The Companyâs main products include CDL series centrifugal pumps, CHL series centrifugal pumps, complete sets of water supply equipment, sewage pumps, pipe pumps, axially split pumps, fire pumps, metering pumps, oil pumps and deep well pumps, among others. The Company's products are used in clean water treatment, building water supply, heat supply system, pharmaceutical and electronic cleaning industries. The Company distributes its products in domestic market and to overseas markets.
Nanfang Zhongjin Environment Co., Ltd. signed an agreement to acquire 96.6% stake in Zhejiang Jintailai Environmental Protection Co., Ltd from a group of shareholders for CNY 1.8 billion.
NANFANG ZHONGJIN ENVIRONMENT CO., LTD. 
