Shenzhen WOTE Advanced Materials Co., Ltd completed the acquisition of 51% of Shanghai Valqua Fluorocarbon Products Co., Ltd. from Valqua, Ltd..
August 04, 2022
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Shenzhen WOTE Advanced Materials Co., Ltd (SZSE:002886) agreed to acquire 51% of Shanghai Valqua Fluorocarbon Products Co., Ltd. from Valqua, Ltd. (TSE:7995) for ¥1.4 billion on June 29, 2022. The transaction is expected to be completed in July - September 2022. Financial status of the Shanghai Valqua Fluorocarbon Products Co., Ltd for December 31, 2021 are net assets ¥I935 million, Total assets ¥2.9 billion, Sales ¥3 billion, Operating income ¥223 million and Net profit is ¥168 million. The transaction is subject to Shenzhen WOTE Advanced Materials Co., Ltd board. As of June 29, 2022 Shenzhen WOTE Advanced Materials Co., Ltd board approved the deal.
Shenzhen WOTE Advanced Materials Co., Ltd (SZSE:002886) completed the acquisition of 51% of Shanghai Valqua Fluorocarbon Products Co., Ltd. from Valqua, Ltd. (TSE:7995) on August 5, 2022.
Shenzhen WOTE Advanced Materials Co Ltd is a China-based company mainly engaged in the research and development, production and sales of modified engineering plastics, modified general-purpose plastics and polymer materials. The Company also provides related technical consulting services and material solutions. The Company's main products include modified general-purpose plastics, engineering plastics and special engineering plastics. Its products are mainly applied in electronics, home appliances, office equipment, communications, automobile, water treatment, aviation and military industries. The Company mainly distributes its products within domestic market and to overseas markets.
SHENZHEN WOTE ADVANCED MATERIALS CO.,LTD 
