Shanghai Aiyingshi Co.,Ltd agreed to acquire 48.53% stake in Nantong Xing'ai Maternal and Child Products Co., Ltd from Zhu Yuanqi for approximately CNY 110 million.
November 18, 2020
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Shanghai Aiyingshi Co.,Ltd (SHSE:603214) agreed to acquire 48.53% stake in Nantong Xing'ai Maternal and Child Products Co., Ltd from Zhu Yuanqi for approximately CNY 110 million on November 17, 2020. Shanghai Qinbei Maternal (wholly owned subsidiary of Shanghai Aiyingshi) holds 51.47% stake of Nantong. As a result of the transaction, Shanghai Aiyingshi will hold 100% stake in Nantong. As of December 31, 2019, Nantong reported Revenue of CNY 323.72 million, Net Profit of CNY 15.75 million, Net Asset of CNY 62.28 million and total asset of CNY 90.4 million. The transaction is subject to shareholder approval of Shanghai Aiyingshi. On November 18, 2020, the transaction is approved by board of directors of Shanghai Aiyingshi.
Shanghai Aiyingshi Co., Ltd is a China-based company principally engaged in the sales of maternal and baby products and the provision of related services. The Company is a chain retailer which provides maternal and baby supplies, as well as prenatal and baby health services for pre-pregnancy to 6-year-old infant families. The Companyâs products mainly include infant milk powder, nutritional products, diapers, feeding supplies, toys, baby clothing, toiletries, maternity products, cotton textiles, strollers and others. The Company mainly distributes its products through direct sale stores and e-commerce channels.
Shanghai Aiyingshi Co.,Ltd agreed to acquire 48.53% stake in Nantong Xing'ai Maternal and Child Products Co., Ltd from Zhu Yuanqi for approximately CNY 110 million.
SHANGHAI AIYINGSHI CO.,LTD 
