SDIC Capital Holding Co. Limited acquired Textile Assets from Essence Securities Company Limited for approximately CNY 650 million.
June 23, 2015
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SDIC Capital Holding Co. Limited agreed to acquire Textile Assets from Essence Securities Company Limited (SHSE:600061) for approximately CNY 650 million on June 23, 2015. SDIC Capital Holding will acquire all assets and liabilities, except for Essence Securities' parent company's long-term equity investments. SDIC Capital Holding will acquire 100% stake in China Textile Resources Pudong Ltd, Wuxi Huayan Chemical Fiber Co., Ltd, Baotou Sinotex Goat King Industry Co., Ltd and Sinotex Wuxi New Materials Technology Development Co., Ltd, 97.5% stake in Beijing Tongyi Specialty Fiber Technology & Development Co., Ltd. and 72% stake in STIC Logistics Co., Ltd.
The Board of Essence Securities Company Limited approved the transaction on June 23, 2015. The shareholders of Essence Securities Company Limited approved the transaction on July 27, 2015. Huatai United Securities Co., Ltd acted as the financial advisor, Jiayuan Law Firm acted as the legal advisor and Baker Tilly China Certified Public Accountants acted as the accountant to Essence Securities Company Limited.
SDIC Capital Co., Ltd, formerly SDIC Essence (Holdings) Co., Ltd, is a China-based company principally engaged in the securities business. The Company operates through five segments. The Brokerage segment manily includes brokerage business of securities and futures and the agent sales of financial products. Entrusted Asset Management segment mainly includes the pooled asset management, directional asset management and specific asset management. Proprietary Business segment mainly invests the Companyâs funds in equity securities, fixed income securities and derivatives and is involved in the market making business in the new over-the-counter (OTC) market. Investment Banking segment includes stock financing, bond financing, mergers and acquisitions and financial advisory services. Margin Trading segment includes margin trading, stock pledged repo and agreed-to-repurchase securities.
SDIC CAPITAL CO.,LTD 
