Sun Xuedong entered into an agreement to acquire an additional 32% stake in Guangdong Deruiyuan New Material Technology Co., Ltd. from Shenzhen Cotran New Material Co.,Ltd. for CNY 38.4 million.
June 29, 2021
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Sun Xuedong entered into an agreement to acquire an additional 32% stake in Guangdong Deruiyuan New Material Technology Co., Ltd. from Shenzhen Cotran New Material Co.,Ltd. (SZSE:300731) for CNY 38.4 million on June 30, 2021. Post completion, Shenzhen Cotran New Material's stake in Guangdong Deruiyuan New Material Technology will decrease from 51% to 19% and Sun Xuedong’s stake in Guangdong Deruiyuan New Material Technology will increase from 49% to 81%. As of March 31, 2021, Guangdong Deruiyuan New Material Technology reported the total assets of CNY 71 million, total liabilities of CNY 48.8 million and owner's equity of CNY 22.2 million. On June 30, 2021, the 37th session of the Shenzhen Cotran New Material's 2nd Directorate approved this transaction.
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.
Sun Xuedong entered into an agreement to acquire an additional 32% stake in Guangdong Deruiyuan New Material Technology Co., Ltd. from Shenzhen Cotran New Material Co.,Ltd. for CNY 38.4 million.
SHENZHEN COTRAN NEW MATERIAL CO.,LTD. 
