Luo Yumin and Zhang Juan cancelled the acquisition of the remaining 51% stake in Hefei Arboriculture Garden Construction Co., Ltd. from Beijing Shenhuaxin Co., Ltd..
December 26, 2014 at 11:00 pm EST
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Luo Yumin and Zhang Juan agreed to acquire the remaining 51% stake in Hefei Arboriculture Garden Construction Co., Ltd. from Beijing Shenhuaxin Co., Ltd. (SZSE:000010) for CNY 2.7 million on December 27, 2013. Under the terms of agreement, Luo Yumin acquired additional 41% stake for CNY 2.14 million and Zhang Juan acquired 10% stake for CNY 0.52 million. For the year ending December 31, 2012, Hefei Arboriculture Garden Construction reported total assets of CNY 13.5 million, net assets of CNY 4.9 million, revenue of CNY 20.5 million and net profit of CNY 3.4 million. As of December 27, 2013, Beijing Shenhuaxin approved the transaction in its 18th session of the 8th Directorate. The transaction is not subject to shareholders of Beijing Shenhuaxin.
Luo Yumin and Zhang Juan cancelled the acquisition of the remaining 51% stake in Hefei Arboriculture Garden Construction Co., Ltd. from Beijing Shenhuaxin Co., Ltd. (SZSE:000010) on December 27, 2014.
SHENZHEN ECOBEAUTY CO., LTD., formerly BEIJING SHENHUAXIN CO., LTD., is a China-based company principally engaged in landscaping construction engineering business. The Company mainly operates through landscape design, the construction and maintenance of landscaping projects, as well as the cultivation and sale of seedlings. The Company is also involved in the provision of gas selling services. The Company operates its business within domestic market, mainly in East China and Southwest China.
Luo Yumin and Zhang Juan cancelled the acquisition of the remaining 51% stake in Hefei Arboriculture Garden Construction Co., Ltd. from Beijing Shenhuaxin Co., Ltd..