Suzhou Jinhong Gas Co., Ltd. agreed to acquire 60% stake in Changsha Mande Gas Co., Ltd. from Shanghai Jihao Enterprise Management Partnership Enterprise (Limited Partnership) for approximately CNY 160 million.
July 30, 2021
Share
Suzhou Jinhong Gas Co., Ltd. (SHSE:688106) agreed to acquire 60% stake in Changsha Mande Gas Co., Ltd. from Shanghai Jihao Enterprise Management Partnership Enterprise (Limited Partnership) for approximately CNY 160 million on July 30, 2021. in a related transaction, Suzhou Jinhong Gas Co., Ltd. agreed to acquire 10% stake in Changsha Mande Gas Co., Ltd. through capital contribution on July 30, 2021. Post completion, Suzhou Jinhong Gas Co., Ltd will hold 70% stake of Changsha Mande Gas Co., Ltd. As of June 30, 2021, Changsha Mande Gas Co., Ltd. has reported total assets of CNY 169.18 million and net assets of CNY 39.55 million. The Board of Directors of Suzhou Jinhong Gas Co., Ltd. has approved the transaction and its shareholder's approval is not required.
Jinhong Gas Co Ltd, formerly Suzhou Jinhong Gas Co Ltd is a China-based company mainly engaged in the research and development, production and sales of gas. The Company provides customers with specialty gases, bulk gases and natural gas. The specialty gases include ultrapure ammonia, hydrogen, nitrous oxide, dry ice, silane, helium, gas mixtures, medical gases and fluorocarbons. The bulk gases include oxygen, nitrogen, argon, carbon dioxide and acetylene. The Company's main gas supply modes are bottled gas supply, storage tank gas supply and on-site gas production. The Company's products are mainly used in integrated circuits, liquid crystal panels, light emitting diodes (LED), optical fiber communications, photovoltaics, medical health, energy conservation and environmental protection, new materials, new energy, high-end equipment manufacturing, food, metallurgy, chemical industry, machinery manufacturing and other fields.
Suzhou Jinhong Gas Co., Ltd. agreed to acquire 60% stake in Changsha Mande Gas Co., Ltd. from Shanghai Jihao Enterprise Management Partnership Enterprise (Limited Partnership) for approximately CNY 160 million.
JINHONG GAS CO.,LTD. 
