Xinjiang Talimu Agriculture Development Co., Ltd. intent to acquire remaining 14.4% stake in Xinjiang Ala'er New Agriculture Licorice Root Industry Co., Ltd. from Ala'er Sanhe State-owned Assets Management Co., Ltd. and Ala'er Hezhong State-owned Assets Investment Management Co., Ltd. for CNY 17.7 million.
December 25, 2019
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Xinjiang Talimu Agriculture Development Co., Ltd. (SHSE:600359) intent to acquire remaining 14.4% stake in Xinjiang Ala'er New Agriculture Licorice Root Industry Co., Ltd. from Ala'er Sanhe State-owned Assets Management Co., Ltd. and Ala'er Hezhong State-owned Assets Investment Management Co., Ltd. for CNY 17.7 million on December 25, 2019. Following acquisition, Xinjiang Talimu Agriculture Development will own 100% stake in Xinjiang Ala'er New Agriculture Licorice Root. As of December 31, 2018, Xinjiang Ala'er New Agriculture Licorice Root Industry had total assets of CNY 235.15 million, net assets of CNY 127.4 million, operating revenue of CNY 36.5 million and net loss of CNY 10.9 million.
Xinjiang Talimu Agriculture Development Co., Ltd. is a China-based company principally engaged in the processing and sales of seeds and their by-products, the processing and sales of cotton pulp and chemical fiber, the processing and sales of dairy products, and the processing and sales of licorice deep-processing products. The Company primarily provides ginned cotton, lower pile, aborted cotton, cotton seeds, rice, red jujubes, nuts, chemical fiber products, steam, liquid milk, whole evaporated milk, cow breeding, liquorice products, lime, nursery stock, engineering works and others. The Company mainly conducts its businesses within domestic market.