Xiamen Jihong Package Technology Ltd. agreed to acquire Jinan Jilian Packaging Co., Ltd from Beijing TPU Printing & Packaging Supplies Co.,LTD for CNY 33.7 million.
December 28, 2018
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Xiamen Jihong Package Technology Ltd. (SZSE:002803) agreed to acquire Jinan Jilian Packaging Co., Ltd from Beijing TPU Printing & Packaging Supplies Co.,LTD for CNY 33.7 million on December 29, 2018. The transaction has been funded by Xiamen Jihong Package Technology own funds. Post-acquisition, Jinan Jilian Packaging will become a wholly-owned subsidiary of the Xiamen Jihong Package Technology. Jinan Jilian Packaging reported total assets of CNY 81.1 million, net assets of CNY 27.89 million, revenue of CNY 75.6 million, operating loss of CNY 2.3 million and net loss of CNY 3.3 million for the year December 31, 2017. The deal does need not be submitted to the Xiamen Jihong Package Technology's shareholders meeting for approval. The transaction has been reviewed and approved at the 32nd meeting of the third Directorate of the Xiamen Jihong Package Technology.
Xiamen Jihong Technology Co.,Ltd, formerly Xiamen Jihong Package Technology Ltd., is a comprehensive solution provider for packaging and Internet services based on creative design and advertising planning. The Company operates its business through two segments. The Packaging Business includes the production and sale of paper containers such as color packaging cartons, color packaging boxes and environmentally friendly paper bags. The Internet Business includes Internet precision marketing and cross-border e-commerce extended by precision marketing. The Company conducts its business both in the domestic market and overseas markets.
XIAMEN JIHONG TECHNOLOGY CO., LTD. 
