Sichuan Xinjinlu Group Co., Ltd. cancelled the acquisition of 65.01% stake in Anhui Tianbing Electronic Technology Co., Ltd. from group of sellers.
June 21, 2023
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Sichuan Xinjinlu Group Co., Ltd. (SZSE:000510) agreed to acquire a 65.01% stake in Anhui Tianbing Electronic Technology Co., Ltd. from group of sellers on September 19, 2022. Under the terms, Sichuan Xinjinlu Group Co., Ltd. will acquire 35.755496 million shares at a price of CNY 5.7 per share. Group of sellers include; Cai Yu, Jiang Chuan, Zhang Dongxiang, Hu Shiwei, Wuhu Tianying Chip Technology Service Center (Limited Partnership, Jin Chengren, Zhou Yulian and He Haochi. For the period June 30, 2022, Anhui Tianbing had total assets of CNY 362.8 million. On March 17, 2023, the parties signed “Acquisition of Assets through the Issuance of Shares Supplement Agreement,†agreeing to the Sichuan Xinjinlu Group acquiring Anhui Tianbing Electronic Technology Co., Ltd.’s 65.01% stake from the Sellers for consideration in new shares the Sichuan Xinjinlu Group will issue at CNY 5.06 per share.
Sichuan Xinjinlu Group Co., Ltd. (SZSE:000510) cancelled the acquisition of 65.01% stake in Anhui Tianbing Electronic Technology Co., Ltd. from group of sellers on June 22, 2023.
SICHUAN XINJINLU GROUP CO., LTD formerly SICHUAN JINLU GROUP CO., LTD. is a China-based company principally engaged in the production and sales of chemical products. The Company's main products include polyvinyl chloride (PVC) resins, caustic soda and other products. The PVC resins are mainly used in the construction, packaging, power cables and other industries. The caustic soda products are mainly used in the light industry, textile, agriculture, building materials and electronics fields. The Company mainly operates its businesses in the Southwest of China.
SICHUAN XINJINLU GROUP CO., LTD. 
