Shenzhen Cotran New Material Co.,Ltd. entered into an agreement to acquire 65% stake in Wuxi Kuncheng New Materials Technology Co., Ltd. from Shenzhen Huizhi Xinyuan Venture Capital Enterprise (Limited Partnership) for approximately CNY 100 million.
May 30, 2019
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Shenzhen Cotran New Material Co.,Ltd. (SZSE:300731) entered into an agreement to acquire 65% stake in Wuxi Kuncheng New Materials Technology Co., Ltd. from Shenzhen Huizhi Xinyuan Venture Capital Enterprise (Limited Partnership) for approximately CNY 100 million on May 30, 2019. Wuxi Kuncheng reported total assets worth CNY 42.4 million, revenue worth CNY 43.3 million, total profit worth CNY13.2 million, owners equity worth CNY 36.8 million and net profit worth CNY 9.9 million the transaction is subject to approval from the shareholders of Shenzhen Cotran.The transaction has been approved by the 2nd supervisory board of the 2nd Directorate of Shenzhen Cotran.
Shenzhen Cotran New Material Co Ltd is a company engaged in research, development, production and sales of polymer materials. The Company provides plastic metallized devices, radiators, waterproof tapes and waterproof insulating tapes for communications industry. It provides fireproof tapes, high voltage insulation tapes, metal shielding tapes and other products for power industry. The Company's other products include door and window seals used in automobile manufacturing and rail transit industries and anti-corrosion microfiber armor used in marine engineering facilities. The Company sells its products to both domestic and international markets, including Europe and South America.
Shenzhen Cotran New Material Co.,Ltd. entered into an agreement to acquire 65% stake in Wuxi Kuncheng New Materials Technology Co., Ltd. from Shenzhen Huizhi Xinyuan Venture Capital Enterprise (Limited Partnership) for approximately CNY 100 million.
SHENZHEN COTRAN NEW MATERIAL CO.,LTD. 
