Zhejiang Material Industrial Zhongda Yuantong Group Co., Ltd. cancelled the acquisition of 51% stake in Zhejiang Wubao Pawn Co., Ltd. from Zhejiang Products Industrial Holding Co., Ltd.
November 19, 2014 at 11:00 pm EST
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Zhejiang Material Industrial Zhongda Yuantong Group Co., Ltd. (SHSE:600704) agreed to acquire 51% stake in Zhejiang Wubao Pawn Co., Ltd. from Zhejiang Products Industrial Holding (group) Co., Ltd. on November 20, 2013. As of September 30, 2013, Zhejiang Wubao Pawn Co., Ltd.'s reported unaudited total assets of CNY 103 million, net assets of CNY 102 million and net profit of CNY 2.33 million. The Board of Directors of Zhejiang Material Industrial Zhongda Yuantong has approved the deal and the still needs the approval of the State-owned Assets Supervision and Administration Commission of Zhejiang People's Government.
Zhejiang Material Industrial Zhongda Yuantong Group Co., Ltd. (SHSE:600704) cancelled the acquisition of 51% stake in Zhejiang Wubao Pawn Co., Ltd. from Zhejiang Products Industrial Holding (group) Co., Ltd. on November 20, 2014.
Wuchan Zhongda Group Co., Ltd., formerly ZHEJIANG MATERIAL INDUSTRIAL ZHONGDA YUANTONG GROUP CO., LTD., is principally engaged in automobile business, real estate business, international trading business, mechanical and electrical business, as well as financial business. The Company operates its businesses mainly through the sale of automobiles, future business, the development of residential and commercial buildings, the trading of apparels, textile products, mechanical and electrical products.
Zhejiang Material Industrial Zhongda Yuantong Group Co., Ltd. cancelled the acquisition of 51% stake in Zhejiang Wubao Pawn Co., Ltd. from Zhejiang Products Industrial Holding Co., Ltd.
WUCHAN ZHONGDA GROUP CO.,LTD. 
