Shanghai Luxin Packing Materials Science & Technology Co., Ltd. completed the acquisition of 56% stake in Qujing Fupai Color Printing Co., Ltd. from Yunnan Zhongyun Investment Co., Ltd.
August 28, 2014
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Shanghai Luxin Packing Materials Science & Technology Co., Ltd. (SZSE:002565) agreed to acquire 56% stake in Qujing Fupai Color Printing Co., Ltd. from Yunnan Zhongyun Investment Co., Ltd. for CNY 79 million on July 4, 2014. In a related deal, Shanghai Luxin Packing Materials Science & Technology Co., Ltd. (SZSE:002565) agreed to acquire Yuxi Printing Co., Ltd.'s 60% stake and Dali Meideng Printing Limited Company's 26% stake from Zhongyun Investment Co., Ltd. and Fujian Taixing Special Paper Co., Ltd.'s 15% stake from Lin Shuxia on July 4, 2014. Shanghai Luxin Packing Materials Science & Technology will issue shares to not more than 10 specific investors to raise funds. Shanghai Luxin Packing Materials Science & Technology will raise CNY 520.1 million to finance the transaction.
The share transfer payment schedule is as before July 10, 2014, Shanghai Luxin Packing Materials Science & Technology will pay 20% of the total share transfer price, as the share transfer's deposit; within 10 days after Shanghai Luxin Packing Materials Science & Technology's shareholders' approval agreement, Shanghai Luxin Packing Materials Science & Technology will complete 60% payment and the remaining amount will be a one-time payment before October 31, 2014. As of December 31, 2013, Qujing Fupai Color Printing had total assets of CNY 78.75 million, total liabilities of CNY 22.22 million, total owner's equity of CNY 56.53 million, revenue of CNY 62.87 million, operating profit of CNY 11.85 million, total profit of CNY 11.83 million and net profit of CNY 9.92 million. The deal was approved by Board of Directors of Shanghai Luxin Packing Materials Science & Technology on July 4, 2014. The deal was approved by the shareholders of Shanghai Luxin Packing Materials Science & Technology on July 21, 2014.
Shanghai Luxin Packing Materials Science & Technology Co., Ltd. (SZSE:002565) completed the acquisition of 56% stake in Qujing Fupai Color Printing Co., Ltd. from Yunnan Zhongyun Investment Co., Ltd. on August 29, 2014.
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 SHUNHO NEW MATERIALS TECHNOLOGY CO.,LTD. 
