Xiamen Jihong Technology Co., Ltd. cancelled the acquisition of 49% stake in Stork Paper Co., Ltd. from Johnson Packaging Technology Co., Ltd.
June 23, 2020
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Xiamen Jihong Package Technology Corp. (SZSE:002803) signed a transfer agreement to acquire remaining 49% stake in Stork Paper (Shanghai) Co., Ltd. from Johnson Packaging Technology (Shanghai) Co., Ltd. for CNY 5 million recently. Post completion, Stork Paper (Shanghai) Co., Ltd will operate as a wholly-owned subsidiary of Xiamen Jihong Package Technology. As of December 31, 2018, Stork Paper (Shanghai) Co., Ltd reported total assets of CNY 11.24 million, total common equity of CNY 2.68 million, revenue of CNY 19.04 million, EBIT of CNY 0.13 million and net profit of CNY 0.13 million.
Xiamen Jihong Technology Co., Ltd. (SZSE:002803) cancelled the acquisition of remaining 49% stake in Stork Paper (Shanghai) Co., Ltd. from Johnson Packaging Technology (Shanghai) Co., Ltd on June 24, 2020.
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. 
