Yunnan Jinggu Forestry Co.,Ltd completed the acquisition of a 24% stake in Tang County Huiyin Wood Industry Co., Ltd. from Cui Huijun, Wang Lancun, Hebei Industrial Technological Transformation Development Fund Center (Limited Partnership) and Shijiazhuang High-tech Zone Jingbao Equity Investment Fund Center (Limited Partnership) managed by Tianjin Sitong Equity Investment Fund Management Co., Ltd.
Published on 02/27/2023 at 18:00
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Yunnan Jinggu Forestry Co.,Ltd (SHSE:600265) agreed to acquire 51% stake in Tang County Huiyin Wood Industry Co., Ltd. from Cui Huijun, Wang Lancun, Hebei Industrial Technological Transformation Development Fund Center (Limited Partnership) and Shijiazhuang High-tech Zone Jingbao Equity Investment Fund Center (Limited Partnership) managed by Tianjin Sitong Equity Investment Fund Management Co., Ltd. for CNY 270.3 million on September 14, 2022. Cui Huijun holds 20.792%, Wang Lancun holds 20792% stake, Shijiazhuang High-tech Zone Jingbao Equity Investment Fund Center 7.692% stake and Hebei Industrial Technological Transformation Development Fund Center holds 1.724% stake in ang County Huiyin. Transaction has been approved by Yunnan Jinggu's board of directors. Huaying Securities Co., Ltd., acted as financial advisor, AnJie Law Firm acted as legal advisor and Mazars Certified Public Accountants LLP acted as accountant to Yunnan Jinggu Forestry. Huachuang Securities Co.,Ltd acted ass financial advisor and Beijing Zhonglun W&D (Jinan) Law Firm acted as legal advisor to Yunnan Jinggu Forestry Co.,Ltd. As of January 12, 2023 Cui Huijun, Wang Lancun, Jingbao Fund, and Technological Transformation Fund agreed to waive the right of first refusal for other parties to transfer equity. On January 12, 2023, Tang County Huiyin Wood Industry Co., Ltd. held a shareholders meeting, and approved the transfer.
Yunnan Jinggu Forestry Co.,Ltd (SHSE:600265) completed the acquisition of a 24% stake in Tang County Huiyin Wood Industry Co., Ltd. from Cui Huijun, Wang Lancun, Hebei Industrial Technological Transformation Development Fund Center (Limited Partnership) and Shijiazhuang High-tech Zone Jingbao Equity Investment Fund Center (Limited Partnership) managed by Tianjin Sitong Equity Investment Fund Management Co., Ltd. on February 28, 2023.
Yunnan Jinggu Forestry Co Ltd is a China-based company principally engaged in the manufacture of wood-based panels, the manufacture of forest chemical products, and afforestation. Wood-based panel products mainly include plywood, fiberboard, particleboard, veneer, blockboard and other products, which are mainly used in wooden furniture manufacturing and the construction industry. Forest chemical products include rosin, disproportionated rosin, turpentine and other products, which are mainly used in the adhesive industry, coating industry, ink industry, synthetic rubber and synthetic plastic industry, electronic chemicals industry, and food and cosmetics industry. The main products of the afforestation business are timber and standing timber, which are mainly used for log processing and the production and manufacture of wood products. The Company is also engaged in cooperative forest logging business.
Yunnan Jinggu Forestry Co.,Ltd completed the acquisition of a 24% stake in Tang County Huiyin Wood Industry Co., Ltd. from Cui Huijun, Wang Lancun, Hebei Industrial Technological Transformation Development Fund Center (Limited Partnership) and Shijiazhuang High-tech Zone Jingbao Equity Investment Fund Center (Limited Partnership) managed by Tianjin Sitong Equity Investment Fund Management Co., Ltd.
