Polyrocks Chemical Co., Ltd acquired 55% stake in Guangdong Guanzhen Technology Co., Ltd. from Henan Zhenxiu Enterprise Services Partnership Enterprise (Limited Partnership)
November 03, 2021
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Polyrocks Chemical Co., Ltd (SHSE:688669) signed Share Transfer Agreement to acquire 55% stake in Guangdong Guanzhen Technology Co., Ltd. from Henan Zhenxiu Enterprise Services Partnership Enterprise (Limited Partnership) for approximately CNY 130 million on July 1, 2021. As on March 31, 2021, Guangdong Guanzhen Technology Co., Ltd reported total assets of CNY 190.2 million, net assets of CNY 22 million, revenue of CNY 94.6 million, net profit of CNY 1.4 million. On November 3, 2021, transaction is approved by the board of Polyrocks Chemical Co., Ltd. On November 3, 2021, the Polyrocks Chemical Co., Ltd has paid CNY 60 million.
Polyrocks Chemical Co., Ltd (SHSE:688669) completed the acquisition of 55% stake in Guangdong Guanzhen Technology Co., Ltd. from Henan Zhenxiu Enterprise Services Partnership Enterprise (Limited Partnership) on September 14, 2021.
Polyrocks Chemical Co Ltd is a China-based company principally engaged in the research and development, production and sales of flame retardants, modified plastic particles and products. The Company's main products include halogen-free flame retardants, modified plastic particles and products. Among them, halogen-free flame retardants are mainly used in the production of flame-retardant plastics and flame-retardant coatings; modified plastic particles and products are mainly used in holiday lighting, electronics, wires and cables, automobiles, liquid crystal televisions and medical and health fields. The Company distributes its products both in the domestic market and to overseas markets
POLYROCKS CHEMICAL CO.,LTD 
