Shenzhen Prince New Materials Co., Ltd. signed a share transfer agreement to acquire 51% stake in Wuhan Zhongdian Huarui Technology Development Co., Ltd. from Zhu Zhu, Zhu Wanli, Liu Jiangzhou, Jiang Shanwen and Guo Yufeng for approximately CNY 150 million.
November 23, 2020
Share
Shenzhen Prince New Materials Co., Ltd. (SZSE:002735) signed a share transfer agreement to acquire 51% stake in Wuhan Zhongdian Huarui Technology Development Co., Ltd. from Zhu Zhu, Zhu Wanli, Liu Jiangzhou, Jiang Shanwen and Guo Yufeng for approximately CNY 150 million on November 23, 2020. Shenzhen Prince New Materials Co., Ltd. will acquire 37.485% stake from Zhu Zhu, 1.785% stake from Zhu Wanli, 7.65% stake from Liu Jiangzhou, 3.315% stake from Jiang Shanwen and 0.765% stake from Guo Yufeng. Upon completion, Zhu Zhu will own 36.015% stake , Zhu Wanli will own 1.715% stake, Liu Jiangzhou will own 7.350% stake, Jiang Shanwen will own 3.185% stake and Guo Yufeng will own 0.735% stake in Wuhan Zhongdian Huarui Technology Development Co., Ltd. For September 30, 2020, Wuhan Zhongdian Huarui Technology Development Co., Ltd. reported total assets of CNY 72.4 million and total common equity of CNY 46.7 million. The transaction has been approved in the 19th Meeting of 4th Directorate of Shenzhen Prince New Materials on November 23, 2020, and does not need the shareholders’ approval.
Shenzhen Prince New Materials Co.,Ltd. is a China-based company principally engaged in the research, development, production and sales of plastic packaging materials. The Company's main products include plastic packaging films, plastic trays, plastic cushioning materials and other packaging materials. The Company's products are mainly applied in the process of production and sales packaging of electronic products, such as computers, smart phones and home appliances. The Company distributes its products in domestic market and to overseas markets.
Shenzhen Prince New Materials Co., Ltd. signed a share transfer agreement to acquire 51% stake in Wuhan Zhongdian Huarui Technology Development Co., Ltd. from Zhu Zhu, Zhu Wanli, Liu Jiangzhou, Jiang Shanwen and Guo Yufeng for approximately CNY 150 million.
SHENZHEN PRINCE NEW MATERIALS CO.,LTD. 
