Xinjiang Xuefeng Sci-Tech Co., Ltd. completed the acquisition of 66% stake in Xinjiang Bazhou Wanfang Materials Industry Co., Ltd. from Xinjiang Xuefeng Investment Holding Co., Ltd.
June 21, 2021
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Xinjiang Xuefeng Sci-Tech (Group) Co., Ltd. (SHSE:603227) agreed to acquire 66% stake in Xinjiang Bazhou Wanfang Materials Industry Co., Ltd. from Xinjiang Xuefeng Investment Holding Co., Ltd. for approximately CNY 140 million on May 31, 2021. As of March 31, 2021, in Xinjiang Bazhou Wanfang Materials Industry Co., Ltd. has reported total assets of CNY 169.14 million and net assets of CNY 125.99 million. The Board of Directors of Xinjiang Xuefeng Sci-Tech (Group) Co., Ltd. has approved the transaction and its shareholder's approval is required. As of June 17, 2021, Shareholders’ of Xinjiang Xuefeng Sci-Tech (Group) Co., Ltd. approved the transaction.
Xinjiang Xuefeng Sci-Tech (Group) Co., Ltd. (SHSE:603227) completed the acquisition of 66% stake in Xinjiang Bazhou Wanfang Materials Industry Co., Ltd. from Xinjiang Xuefeng Investment Holding Co., Ltd. on June 22, 2021. Xinjiang Bazhou Wanfang Materials Industry Co., Ltd. became the controlled subsidiary of Xinjiang Xuefeng Sci-Tech (Group) Co., Ltd.
Xinjiang Xuefeng Sci-Tech Group Co Ltd is a China-based company mainly engaged in civil explosives business. The Company operates primarily through two segments. The Energy and Chemical segment is mainly engaged in the production of liquefied natural gas (LNG) and the production of chemical products. The Civil Explosives segment is mainly engaged in the production and sales of civil explosive equipment, dangerous goods transportation business, blasting and earthwork services. The Company's main products include industrial explosives, packaged explosives, mixed explosives, industrial digital electronic detonators, natural gas, commercial urea, compound fertilizers, ammonium nitrate and melamine. The Company mainly conducts its businesses in the domestic market.
XINJIANG XUEFENG SCI-TECH(GROUP)CO.,LTD 
