Tianjin Jingjin Culture Media Development Co., Ltd. completed the acquisition of 51% stake in Tianjin Haishun Printing & Packaging Co., Ltd. from Tianjin Binhai Energy & Development Co.,Ltd.
April 12, 2023
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Tianjin Jingjin Culture Media Development Co., Ltd. agreed to acquire 51% stake in Tianjin Haishun Printing & Packaging Co., Ltd. from Tianjin Binhai Energy & Development Co.,Ltd (SZSE:000695) for approximately CNY 130 million on March 12, 2023. Under the terms, consideration will be paid in cash and creditor's rights offset. Transaction has been approved by Tianjin Binhai Energy & Development's board of directors, Haishun Printing and Tianjin Jingjin Culture Media Development Co., Ltd. Transaction is subject to approval from Tianjin Binhai Energy & Development's shareholders. For the period September 30, 2022, Tianjin Haishun Printing had total assets of CNY 648 million and Common Equity of CNY 217 million. Guodu Securities Co., Ltd. acted as financial advisor, Jingtian & Gongcheng acted as legal advisor and BDO China Shu Lun Pan Certified Public Accountants acted as an accountant to Tianjin Binhai Energy & Development Co.,Ltd.
Tianjin Jingjin Culture Media Development Co., Ltd. completed the acquisition of 51% stake in Tianjin Haishun Printing & Packaging Co., Ltd. from Tianjin Binhai Energy & Development Co.,Ltd (SZSE:000695) on April 13, 2023. On March 31, 2023, the Tianjin Binhai Energy & Development held the 2nd Extraordinary Shareholders Meeting of 2023, and approved the sale of Tianjin Haishun Printing & Packaging Co., Ltd.’s shares
Tianjin Binhai Energy & Development Co Ltd is a Chinese company primarily engaged in packaging printing and publication printing. The Company's business includes packaging design, packaging solution optimization, packaging process setting, pre-press plate making, packaging and printing production, supply chain optimization and other aspects. The Company's main products include food packaging, pharmaceutical packaging, hardcover gift boxes, environmentally friendly bags, art reproductions and art derivatives and others. The Company operates its business in domestic market.
Tianjin Jingjin Culture Media Development Co., Ltd. completed the acquisition of 51% stake in Tianjin Haishun Printing & Packaging Co., Ltd. from Tianjin Binhai Energy & Development Co.,Ltd.
TIANJIN BINHAI ENERGY & DEVELOPMENT CO.,LTD 
