Hangzhou Youmei Cosmetics Technology Development Co., Ltd. completed the acquisition of Hangzhou UCO Cosmetics Co., Ltd. from Qingdao Kingking Applied Chemistry Co., Ltd..
April 28, 2019
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Hangzhou Youmei Cosmetics Technology Development Co., Ltd. agreed to acquire Hangzhou UCO Cosmetics Co., Ltd. from Qingdao Kingking Applied Chemistry Co., Ltd. (SZSE:002094) for CNY 1.4 billion on February 25, 2019. Out of total consideration, CNY 200 million will be paid within two days from shareholders’ approval, CNY 600 million will be paid within four days from fulfillment of certain conditions, and remaining will be paid on completion. As of September 30, 2018, Hangzhou UCO Cosmetics Co., Ltd. reported total assets of CNY 545.3 million and net assets of CNY 214.3 million. The transaction is subject to shareholders’ approval of Qingdao Kingking Applied Chemistry Co., Ltd. On February 25, 2019, the transaction was approved by the Board of Qingdao Kingking Applied Chemistry Co., Ltd.
Hangzhou Youmei Cosmetics Technology Development Co., Ltd. completed the acquisition of Hangzhou UCO Cosmetics Co., Ltd. from Qingdao Kingking Applied Chemistry Co., Ltd. (SZSE:002094) on April 29, 2019. The existing UCO management team will continue to lead the company in its next phase of growth.
Qingdao Kingking Applied Chemistry Co., LTD is a China-based company principally involved in the cosmetics, new material candles and craft products businesses. The cosmetics business includes cosmetics research and development, production, sales, brand operations and retail businesses. The new material candles and crafts business provides new material candles and related products. The Company is also engaged in oil trading business. The Company conducts its businesses in domestic and overseas markets.
QINGDAO KINGKING APPLIED CHEMISTRY CO., LTD. 
