Hainan Ningsheng Tourism Group Co., Ltd. completed the acquisition of 15% stake in Shanghai Yahong Moulding Co., Ltd. from Xie Yaming and Xie Yue.
February 04, 2021
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Hainan Ningsheng Tourism Group Co., Ltd. signed share transfer agreement to acquire 15% stake in Shanghai Yahong Moulding Co., Ltd. (SHSE:603159) from Xie Yaming and Xie Yue for approximately CNY 290 million on November 30, 2020. Hainan Ningsheng Tourism Group Co., Ltd. will acquire 18,380,000 and 2,620,000 shares from Xie Yaming and Xie Yue, respectively, at CNY 13.68 per share. Within 1 working day after signing the agreement, Hainan Ningsheng Tourism Group Co., Ltd. shall pay the corresponding deposit of CNY 30 million. When Shanghai Stock Exchange agrees that there’s no objection to the acquisition of Shanghai Yahong Moulding Co., Ltd., shares, within two working days after the transfer of the 15% Shanghai Yahong Moulding Co., Ltd., shares is completed by China Securities Depository and Clearing Co., Ltd., Hainan Ningsheng shall pay all remaining price minus the deposit. Post completion, Xie Yaming and Xie Yue, will hold 40.7% and 6.1% stake in Shanghai Yahong Moulding Co., Ltd respectively and Hainan Ningsheng Tourism Group Co., Ltd. will hold 15% stake.
Hainan Ningsheng Tourism Group Co., Ltd. completed the acquisition of 15% stake in Shanghai Yahong Moulding Co., Ltd. (SHSE:603159) from Xie Yaming and Xie Yue on February 5, 2021.
SHANGHAI YAHONG MOULDING CO., LTD. is a China-based company principally engaged in the research, design, manufacture and distribution of precise plastic moulds and other related devices of plastic products. The Company mainly operates four business segments, including industrial mould products, injection moulded products, surface mounted technology (SMT) products, as well as intelligent toilet covers. The Companyâs products are applied in the high end microwave ovens, middle-to-high-end passenger vehicle dashboards, as well as driving seats. The Company distributes its products within domestic market and to overseas markets, with Shanghai, China as its major market.
SHANGHAI YAHONG MOULDING CO., LTD. 