Red Avenue New Materials Group Co., Ltd. agreed to acquire 12% stake in Suzhou Jucui Material Technology Co., Ltd. from Jiangsu Jitri Smart Liquid Crystal Sci & Tech Co., Ltd. for CNY 15.60 million.
May 05, 2022
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Red Avenue New Materials Group Co., Ltd. (SHSE:603650) agreed to acquire 12% stake in Suzhou Jucui Material Technology Co., Ltd. from Jiangsu Jitri Smart Liquid Crystal Sci & Tech Co., Ltd. for CNY 15.60 million on May 6, 2022. As on January 31, 2022, Suzhou Jucui Material Technology reported the total assets of CNY 7,845,417.29 and Net assets of CNY -9,807,014.51. As on December 31, 2021, Suzhou Jucui Material Technology Revenue of CNY 560,298.12 and Net profit of CNY -6,034,501.42.
Red Avenue New Materials Group Co., Ltd. is a China-based company principally engaged in the research, development, production, sales and trading of fine chemical materials. The Company's main products are phenolic resins for rubber, including tackifying resins, reinforcing resins and adhesive resins. The Company's products are mainly applied in tires, as well as hoses, adhesive tapes, rubber shoes and other rubber products. The Company is also engaged in the trading of homogenizers, tackifying resins, adhesives, cobalt salts, white carbon, protective waxes, environmentally friendly oils and other processing aids.
Red Avenue New Materials Group Co., Ltd. agreed to acquire 12% stake in Suzhou Jucui Material Technology Co., Ltd. from Jiangsu Jitri Smart Liquid Crystal Sci & Tech Co., Ltd. for CNY 15.60 million.
RED AVENUE NEW MATERIALS GROUP CO., LTD. 
