Tianjin You Fa Steel Pipe Group Stock Co., Ltd. entered into an Equity Transfer Agreement to acquire a 70% stake in Sichuan Yunganglian Supply Chain Management Co., Ltd. from Tianjin Xindesheng Investment Group Co., Ltd. for CNY 0.03 million.
July 07, 2021
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Tianjin You Fa Steel Pipe Group Stock Co., Ltd. (SHSE:601686) entered into an Equity Transfer Agreement to acquire a 70% stake in Sichuan Yunganglian Supply Chain Management Co., Ltd. from Tianjin Xindesheng Investment Group Co., Ltd. for CNY 0.03 million on July 7, 2021. Payment of the CNY 0.026 million consideration shall be made within 5 working days after the signing of this agreement, and shall be paid in one lump sum. The company intends to acquire 70% of the shares of Sichuan Yunganglian with its own funds. Sichuan Yunganglian reported CNY -1,986.33 net profit, CNY 4,000,400.00 total assets and CNY -1,986.33 net assets for the year ended December 31, 2020. This transaction has been reviewed and approved at the 11th meeting of the 4th Board of Directors and the 10th Meeting of the 4th Board of Supervisors.
Tianjin You Fa Steel Pipe Group Stock Co Ltd is a China-based company mainly engaged in the research and development, production and sales of welded steel pipes. The Company's products include welded round pipes, galvanized round pipes, square rectangular welded pipes, square rectangular galvanized pipes, steel-plastic composite pipes and spiral welded pipes. Its products are used in water supply, drainage, gas supply, heating, fire protection engineering, steel structure, construction engineering and equipment manufacturing. The Company mainly conducts its businesses in the China market.
Tianjin You Fa Steel Pipe Group Stock Co., Ltd. entered into an Equity Transfer Agreement to acquire a 70% stake in Sichuan Yunganglian Supply Chain Management Co., Ltd. from Tianjin Xindesheng Investment Group Co., Ltd. for CNY 0.03 million.
TIANJIN YOU FA STEEL PIPE GROUP STOCK CO., LTD. 
