Xiamen Jihong Package Technology Ltd. signed an equity transfer agreement to acquire 33% stake in Anhui Weizhi Environmental Protection Paper Co., Ltd. from Ningbo Meishan Bonded Port Area Acer Investment Management Partnership (Limited Partnership) for CNY 10.8 million.
September 12, 2018
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Xiamen Jihong Package Technology Ltd. (SZSE:002803) signed an equity transfer agreement to acquire 33% stake in Anhui Weizhi Environmental Protection Paper Co., Ltd. from Ningbo Meishan Bonded Port Area Acer Investment Management Partnership (Limited Partnership) for CNY 10.8 million on September 13, 2018. Under the terms of transaction, Xiamen Jihong Package Technology Ltd. will pay a first installment of 20% within 5 days since completion of change of registry procedures and a second installment for the extant compensation will be paid before December 31, 2018. For the year ended December 31, 2017, Anhui Weizhi Environmental Protection Paper had total assets of CNY 223.6 million, net assets of CNY 17.2 million, revenue of CNY 202.3 million, operating profit of CNY 2.2 million and net profit of CNY 2.05 million.
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 Package Technology Ltd. signed an equity transfer agreement to acquire 33% stake in Anhui Weizhi Environmental Protection Paper Co., Ltd. from Ningbo Meishan Bonded Port Area Acer Investment Management Partnership (Limited Partnership) for CNY 10.8 million.
XIAMEN JIHONG TECHNOLOGY CO., LTD. 
