Guangzhou Huayue Agricultural Services Co., Ltd. agreed to acquire 90% stake in Songyuan Zhengyuan Petroleum Development Co., Ltd. from Nuode Investment Co.,Ltd for CNY 34 million.
December 18, 2019
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Guangzhou Huayue Agricultural Services Co., Ltd. agreed to acquire 90% stake in Songyuan Zhengyuan Petroleum Development Co., Ltd. from Nuode Investment Co.,Ltd (SHSE:600110) for CNY 34 million on December 19, 2019. In a related transaction, Chengzhi (Hong Kong) Electronics Co., Ltd. agreed to acquire 25% stake in Shenzhen Nuode Finance Leasing Co., Ltd. from Nuode Investment Co.,Ltd for approximately CNY 250 million on December 19, 2019. Songyuan Zhengyuan Petroleum Development had total assets of CNY 37.4 million, net assets of CNY 943.3 million, revenue of 0 and net loss of CNY 1.7 million for the year ended December 31, 2018. The transaction was approved by the 19th session of Nuode Investment's 9th directorate.
Nuode New Materials Co Ltd, formerly Nuode Investment Co Ltd, is a China-based company mainly engaged in the research, development, manufacturing, and sales of electrolytic copper foil. The Companyâs products are mainly used in lithium battery manufacturing. The Company is also involved in other businesses such as manufacturing of wire & cable and auxiliary parts, as well material trading. The Company mainly conducts businesses within the domestic market.
NUODE NEW MATERIALS CO.,LTD. 
