Zhejiang Henglin Chair Industry CO., LTD. entered into an agreement to acquire a 11.22% stake in Zhejiang Yongyu Bamboo Stock Limited from Nature Home Co., Ltd for CNY 120 million.
April 22, 2021
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Zhejiang Henglin Chair Industry CO., LTD. (SHSE:603661) entered into an agreement to acquire a 11.22% stake in Zhejiang Yongyu Bamboo Stock Limited from Nature Home (China) Co., Ltd for CNY 120 million on April 23, 2021. Zhejiang Henglin Chair Industry CO., LTD. will acquire 10.306765 million shares in Zhejiang Yongyu Bamboo Stock Limited. Under the terms, Zhejiang Henglin Chair Industry CO., LTD. will pay first payment of CNY 36 million within three days of signing of agreement and remaining CNY 84 million will be paid within 10 days of completion of agreement. Zhejiang Yongyu Bamboo Stock Limited reported net assets of CNY 506.194 million for the year ended on December 31, 2020. The transaction shall take place on the date on which the registration for the transfer of the sale shares is completed. The Nature Home Holding Company Limited intends to apply the net sale proceeds from the disposal for the general working capital of the group.
Henglin Home Furnishings Co., Ltd, formerly Zhejiang Henglin Chair Industry CO., LTD. is a China-based company principally engaged in the research and development, manufacture and sales of seated products and accessories. The Company's main products include office chairs, sofas and massage chairs. The Company's main customers include IKEA, Staples and others. The Company distributes its products within domestic market and to overseas markets, including the United States, Canada, Germany, France and Australia, among others.
Zhejiang Henglin Chair Industry CO., LTD. entered into an agreement to acquire a 11.22% stake in Zhejiang Yongyu Bamboo Stock Limited from Nature Home Co., Ltd for CNY 120 million.
HENGLIN HOME FURNISHINGS CO.,LTD 
