Qu Mei Home Furnishings Group Co.,Ltd agreed to acquire remaining 40% stake in Henan Hengda Qumei Home Co., Ltd. from Henan Hengda Home Furnishing Industrial Park Co., Ltd for CNY 72 million.
October 12, 2021
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Qu Mei Home Furnishings Group Co.,Ltd (SHSE:603818) agreed to acquire remaining 40% stake in Henan Hengda Qumei Home Co., Ltd. from Henan Hengda Home Furnishing Industrial Park Co., Ltd for CNY 72 million on October 13, 2021. Post completion, Qu Mei Home will hold 100% in Henan Qumei Home. As of June 30, 2021, Henan Qumei reported Total Assets of approximately CNY 360 million and Net Assets of approximately CNY 150 million. The transaction does not require Directorate’s approval of Qu Mei Home.
QuMei Home Furnishings Group Co., Ltd. is a China-based company engaged in the design, manufacture and sale of medium and high grade home furnishing and matching home accessories. The Company provides the customers with integrated home solutions. The Company's main product is wooden furniture, which consist of solid wood furniture, man-made board furniture and integrated furniture. Addition to the main furniture for the living room, study, bedroom, diner room, children's room and customized purpose, the Company also provides mattress, curtains and other home accessories.
Qu Mei Home Furnishings Group Co.,Ltd agreed to acquire remaining 40% stake in Henan Hengda Qumei Home Co., Ltd. from Henan Hengda Home Furnishing Industrial Park Co., Ltd for CNY 72 million.