ShanDongDenghai Seeds Co.,LTD cancelled the acquisition of additional 5% stake in Henan Denghai Zhengliang Seeds Co., Ltd. from Wang Yuanzhong, Yuan Shaogang, and Jiang Weijuan.
December 28, 2017
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ShanDongDenghai Seeds Co.,LTD (SZSE:002041) agreed to acquire additional 5% stake in Henan Denghai Zhengliang Seeds Co., Ltd. from Wang Yuanzhong, Yuan Shaogang, and Jiang Weijuan for CNY 0.5 million on December 29, 2016. ShanDongDenghai Seeds Co., Ltd plans to acquire Henan Denghai Zhengliang Seeds Co., Ltd.’s 3%, 1%, and 1% stakes from Wang Yuanzhong, Yuan Shaogang, and Jiang Weijuan for CNY 0.3 million, CNY 0.1 million, and CNY 0.1 million respectively. After the completion of the transaction, ShanDongDenghai Seeds Co.,LTD will hold 56% stake. During the year ended December 31, 2015, Henan Denghai Zhengliang Seeds Co., Ltd. reported total assets of CNY 44.8 million, net assets of CNY 14.84 million, revenue of CNY 33.11 million, operating profit of CNY 5.14 million and net profit of CNY 5.14 million. The transaction has approved by the Board of ShanDongDenghai Seeds Co., Ltd. and does not need any shareholders approval.
ShanDongDenghai Seeds Co.,LTD (SZSE:002041) cancelled the acquisition of additional 5% stake in Henan Denghai Zhengliang Seeds Co., Ltd. from Wang Yuanzhong, Yuan Shaogang, and Jiang Weijuan on December 29, 2017.
Shandong Denghai Seeds Co., Ltd specializes in producing and marketing corn, vegetables and wheat seeds. The group's products are sold under the Denghai and Xiyu brands. Net sales break down by family of products as follows:
- corn (88.8%);
- wheat (7.1%);
- vegetables (2%);
- flowers (0.4%);
- other (1.7%).
All sales are earned in China.
ShanDongDenghai Seeds Co.,LTD cancelled the acquisition of additional 5% stake in Henan Denghai Zhengliang Seeds Co., Ltd. from Wang Yuanzhong, Yuan Shaogang, and Jiang Weijuan.
SHANDONGDENGHAI SEEDS CO.,LTD 
