Xinjiang Hualing Industry & Trade Co., Ltd. cancelled the acquisition of 19.86% stake in Xinjiang Baihuacun Co., Ltd. from Xinjiang Production and Construction Corps State-owned Assets Management Co., Ltd, Sixth division.
April 22, 2020
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Xinjiang Hualing Industry & Trade (Group) Co., Ltd. signed the equity transfer agreement to acquire 19.86% stake in Xinjiang Baihuacun Co., Ltd. (SHSE:600721) from Xinjiang Production and Construction Corps State-owned Assets Management Co., Ltd, Sixth division for approximately CNY 540 million on April 23, 2019. Xinjiang Hualing Industry & Trade (Group) Co., Ltd. will acquire 79.53 million shares at CNY 6.8 per share. Xinjiang Hualing Industry & Trade (Group) Co., Ltd. will make the payment in cash. A first installment for 30% of the price will be paid within 1 day since signing of the agreement. The extant 70% will be paid within 5 days since signing of the agreement. The transaction is subject to approval by the relevant state owned assets department. As on February 28, 2019, the transaction was approved by the Directors of Xinjiang Hualing. As on April 18, 2019, the transaction was approved by the shareholders of Xinjiang Hualing.
Xinjiang Hualing Industry & Trade (Group) Co., Ltd. cancelled the acquisition of 19.86% stake in Xinjiang Baihuacun Co., Ltd. (SHSE:600721) from Xinjiang Production and Construction Corps State-owned Assets Management Co., Ltd, Sixth division on April 23, 2020.
Xinjiang Bai Hua Cun Pharma Tech Co Ltd is a China-based company principally engaged in pharmaceutical services. The Company's main business is the research and development, registration and application of small molecule chemicals and the development of peptide drugs. The Company is engaged in the early discovery and screening of new drugs, drug clinical trials, biological sample analysis, medicine testing services, active pharmaceutical ingredient (API) and intermediate supply. The Company is also engaged in leasing and property services. The Company mainly conducts business within the domestic market.
Xinjiang Hualing Industry & Trade Co., Ltd. cancelled the acquisition of 19.86% stake in Xinjiang Baihuacun Co., Ltd. from Xinjiang Production and Construction Corps State-owned Assets Management Co., Ltd, Sixth division.