Youngor Group Co., Ltd. completed the acquisition of an additional 3% stake in Zheshang Property and Casualty Insurance Company Limited from Debang Holding Group Co., Ltd.
December 17, 2015
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Youngor Group Co., Ltd. (SHSE:600177) entered into an agreement to acquire additional 3% stake in Zheshang Property and Casualty Insurance Company Limited from Debang Holding Group Co., Ltd. for CNY 87.8 million in cash on August 3, 2015. Youngor Group will acquire 45 million shares of Zheshang Property and Casualty Insurance Company for CNY 1.95 per share. After the transaction, Youngor Group Co., Ltd will hold 21% stake in Zheshang Property and Casualty Insurance Company. Zheshang Property and Casualty Insurance Company reported total assets of CNY 4.1 billion, net assets of CNY 1.3 billion, revenue of CNY 3.4 billion and net profit of CNY 31.7 million for the year ending December 31, 2014.
Youngor Group Co., Ltd. (SHSE:600177) completed the acquisition of an additional 3% stake in Zheshang Property and Casualty Insurance Company Limited from Debang Holding Group Co., Ltd. on December 18, 2015. The transaction has been approved by the Insurance Regulatory Commission.
Youngor Fashion Co Ltd, formerly Youngor Group Co Ltd, is a China-based company, principally engaged in the production of apparels, the provision of clothing original equipment manufacturer (OEM) services, as well as property development. The Company's main products include shirts, western-style clothes, pants and tops. The Company distributes its products under brands named YOUNGOR, Mayor, Hart Schaffner Marx and GY, among others. The Company mainly operates its real estate business in Ningbo, Suzhou, Hangzhou, Shanghai and other cities of China.
Youngor Group Co., Ltd. completed the acquisition of an additional 3% stake in Zheshang Property and Casualty Insurance Company Limited from Debang Holding Group Co., Ltd.
YOUNGOR FASHION CO., LTD. 
