Shenzhen Urban Construction Development Co., Ltd. signed the asset transfer agreement to acquire 50% stake in Shenzhen Haohao Property Leasing Co., Ltd. from Shenzhen Textile Co., Ltd. for CNY 60.6 million.
December 20, 2019
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Shenzhen Urban Construction Development (Group) Co., Ltd. signed the asset transfer agreement to acquire 50% stake in Shenzhen Haohao Property Leasing Co., Ltd. from Shenzhen Textile (Holdings) Co., Ltd. (SZSE:000045) for CNY 60.6 million on November 4, 2019. The consideration will be completed within 5 days since signing of the respective agreement. The transaction was approved on October 17, 2019 by the 22nd meeting of Shenzhen Textile (Holdings) Co., Ltd.'s 7th directorate. Shareholders of Shenzhen Textile (Holdings) Co., Ltd. approved the transaction on November 4, 2019 at the 2nd extraordinary shareholders' meeting.
SHENZHEN TEXTILE (HOLDINGS)CO., LTD. is a China-based company principally engaged in the manufacture and sales of polarizers. The Company is also engaged in the property leasing and apparel trading businesses. The Company's polarizers are mainly used in the manufacture of liquid crystal display panels of smart phones, tablet person computer (PCs), television (TVs), organic light emitting diode (OLED) display panels, as well as the filter lens of instruments, sunglasses and photographic equipment. The Company mainly distributes its products in domestic and overseas markets.
Shenzhen Urban Construction Development Co., Ltd. signed the asset transfer agreement to acquire 50% stake in Shenzhen Haohao Property Leasing Co., Ltd. from Shenzhen Textile Co., Ltd. for CNY 60.6 million.