Zhang Jiyuan signed a stake transfer agreement to acquire 30% stake in Heilongjiang Shunho Biological Technology Development Co., Ltd. from Shanghai Shunho New Materials Technology Co.,Ltd..
April 28, 2017
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Zhang Jiyuan signed a stake transfer agreement to acquire 30% stake in Heilongjiang Shunho Biological Technology Development Co., Ltd. from Shanghai Shunho New Materials Technology Co.,Ltd. (SZSE:002565) on April 28, 2017. Shanghai Shunho New Materials Technology has yet not paid the registered capital, therefore, the transfer price for 30% stake of Heilongjiang Shunho Biological Technology Development Co., Ltd is CNY 0. Post-acquisition, Shanghai Shunho New Materials Technology Co.,Ltd. will hold 70% stake in Heilongjiang Shunho Biological Technology Development Co., Ltd. On April 28, 2017, Shanghai Shunho New Materials' 22nd session of the 3rd directorate meeting reviewed and approved the transaction.
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.
Zhang Jiyuan signed a stake transfer agreement to acquire 30% stake in Heilongjiang Shunho Biological Technology Development Co., Ltd. from Shanghai Shunho New Materials Technology Co.,Ltd..
SHANGHAI SHUNHO NEW MATERIALS TECHNOLOGY CO.,LTD. 
