Shanghai Luxin Packing Materials Science & Technology Co., Ltd. cancelled the acquisition of 50% stake in Yousi Jide Industry Co., Ltd from an unknown seller.
August 17, 2012 at 12:00 am EDT
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Shanghai Luxin Packing Materials Science & Technology Co., Ltd. (SZSE:002565) agreed to acquire 50% stake in Yousi Jide Industry (Shanghai) Co., Ltd from an unknown seller for CNY 28.7 million on August 17, 2011. Yousi Jide Industry reported total assets of CNY 58.02 million and net assets of CNY 38.61 million as of May 31, 2011. Yousi Jide Industry reported net loss of CNY 1.30 million for the year 2010. The Board of Directors of Shanghai Luxin Packing Materials Science & Technology Co., Ltd. approved the transaction. Shanghai Yinxin Asset Appraisals Co., Ltd acted as the independent appraiser for the transaction.
Shanghai Luxin Packing Materials Science & Technology Co., Ltd. (SZSE:002565) cancelled the acquisition of 50% stake in Yousi Jide Industry (Shanghai) Co., Ltd from an unknown seller on August 17, 2012.
Shanghai Shunho New Materials Technology Co.,Ltd., formerly Shanghai Luxin Packing Materials Science & Technology Co., Ltd., is a China-based company principally engaged in the research, development, manufacture, processing and distribution of packaging products. The Company's main products include vacuum metalized papers, polypropylene fibers for cigarettes, as well as white cardboards and laminated papers. The Company is also involved in the provision of printing materials, hologram papers as well as optical anti-counterfeiting films, among others. The Company's products are applied in the packing of tobaccos, food, beverages, sports goods, liquors and others. In addition, the Company also engages in the research, manufacture and distribution of natural biological fertilizer and organic feed, as well as the development of network technology, among others. The Company distributes its products within domestic market and to overseas markets.
Shanghai Luxin Packing Materials Science & Technology Co., Ltd. cancelled the acquisition of 50% stake in Yousi Jide Industry Co., Ltd from an unknown seller.
SHANGHAI SHUNHO NEW MATERIALS TECHNOLOGY CO.,LTD. 
