Hubei Xinyangfeng Fertilizer Co., Ltd. cancelled the acquisition of an additional 16.11% stake in Jingmen Xinyangfeng Zhonglin Fertilizer Co., Ltd. from Jingmen Fangmashan Zhonglin Mining Co., Ltd.
April 09, 2018
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Hubei Xinyangfeng Fertilizer Co., Ltd. (SZSE:000902) signed an equity transfer agreement to acquire an additional 16.11% stake in Jingmen Xinyangfeng Zhonglin Fertilizer Co., Ltd. from Jingmen Fangmashan Zhonglin Mining Co., Ltd. for approximately CNY 160 million on April 10, 2017. Hubei Xinyangfeng Fertilizer will hold 96.11% stake in Jingmen Xinyangfeng Zhonglin Fertilizer Co., Ltd. after completion of the transaction. Jingmen Xinyangfeng Zhonglin Fertilizer reported total revenue of CNY 759.2 million, total assets of CNY 1.5 billion, operating profit of CNY 33.2 million, net profit of CNY 26.7 million and net assets of CNY 1.04 billion for the year ending, December 31, 2016. The transaction does not require approval of the shareholders of Hubei Xinyangfeng Fertilizer and was approved by the Board of Hubei Xinyangfeng Fertilizer.
Hubei Xinyangfeng Fertilizer Co., Ltd. (SZSE:000902) cancelled the acquisition of an additional 16.11% stake in Jingmen Xinyangfeng Zhonglin Fertilizer Co., Ltd. from Jingmen Fangmashan Zhonglin Mining Co., Ltd. as of April 10, 2018.
YONFER Agricultural Technology Co Ltd, formerly Xinyangfeng Agricultural Technology Co Ltd, is a China-based company principally engaged in the research, development, production and sale of phosphate compound fertilizer and new fertilizers. The Company's main products include monoammonium phosphate, potassium sulfate compound fertilizer, urea-based compound fertilizer, tower compound fertilizer, bulk blend (BB) fertilizer, organic-inorganic fertilizer and calcium superphosphate, among others. The Company also provides solutions to the modern agricultural industry. The Company distributes its products in domestic market and to overseas markets.
YONFER AGRICULTURAL TECHNOLOGY CO., LTD. 
