Zhejiang Great Shengda Packaging Co.,Ltd. completed the acquisition of a 60% stake in Sichuan Zhongfei Packing Co., Ltd. from Zhongcai New Materials Co., Ltd.
March 07, 2022
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Zhejiang Great Shengda Packaging Co.,Ltd. (SHSE:603687) agreed to acquire a 60% stake in Sichuan Zhongfei Packing Co., Ltd. from Zhongcai New Materials Co., Ltd. for approximately CNY 310 million on January 28, 2022. Post completion, Zhejiang Great Shengda Packaging Co.,Ltd. will hold a 60% stake and Zhongcai New Materials Co., Ltd. will hold a 40% stake in Sichuan Zhongfei Packing Co., Ltd. The total assets and net assets of Sichuan Zhongfei, as of September 30, 2021, were CNY 192.76 million and CNY 84.15 million, respectively. The transaction has been reviewed and approved unanimously at the 23rd meeting of the second session of the board of directors of Zhejiang Great Shengda Packaging Co. and does not require the approval of shareholders.
Zhejiang Great Shengda Packaging Co.,Ltd. (SHSE:603687) completed the acquisition of a 60% stake in Sichuan Zhongfei Packing Co., Ltd. from Zhongcai New Materials Co., Ltd. recently..
Zhejiang Great Shengda Packaging Co., Ltd. is a China-based company mainly engaged in research and development, production, printing and sales of corrugated boxes and cardboard. The Company's main products include cartons, cardboard and base paper. These products are mainly used in the packaging of beer, beverage, tobacco, electronics, home appliances, furniture, machinery, express logistics, chemical and clothing industries. The Company conducts its businesses within domestic market and overseas markets.
Zhejiang Great Shengda Packaging Co.,Ltd. completed the acquisition of a 60% stake in Sichuan Zhongfei Packing Co., Ltd. from Zhongcai New Materials Co., Ltd.
ZHEJIANG GREAT SHENGDA PACKAGING CO.,LTD. 
