Zhonghe Co., Ltd. cancelled the acquisition of 18.92% stake in Tianjin B&M Science and Technology Joint-Stock Co., ltd. from Infotech Pacific Ventures LP, Beijing Shiji Zhizhou Venture Capital Co., Ltd., Zhang Xianyun and Chen Zhen.
November 20, 2015 at 11:00 pm EST
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Zhonghe Co., Ltd. (SZSE:002070) agreed to acquire 18.92% stake in Tianjin B&M Science and Technology Joint-Stock Co., ltd. from Infotech Pacific Ventures LP, Beijing Shiji Zhizhou Venture Capital Co., Ltd., Zhang Xianyun and Chen Zhen for CNY 81.4 million on November 21, 2014. Under the terms of the agreement, Zhonghe Co., Ltd. will acquire 18.1 million shares of Tianjin B&M Science and Technology Joint-Stock Co., ltd. for CNY 4.5 per share. Zhonghe Co. will acquire 12.6 million shares from Infotech Pacific Ventures, 3.4 million shares from Beijing Shiji Zhizhou Venture Capital, 1.1 million shares from Zhang Xianyun and 1 million shares from Chen Zhen. Zhonghe will use own funds to acquire the stake. As of December 2013, Tianjin B&M Science and Technology had total assets of CNY 679.57 million, net assets of CNY 273.83 million, liabilities of CNY 405.74 million, revenues of CNY 610.22 million and net profit of CNY 22.11 million.
As of May 23, 2015, Zhonghe Co., Ltd. (SZSE:002070) cancelled the acquisition of 13.16% stake in Tianjin B&M Science and Technology Joint-Stock Co., ltd.
Zhonghe Co., Ltd. (SZSE:002070) cancelled the acquisition of 18.92% stake in Tianjin B&M Science and Technology Joint-Stock Co., ltd. from Infotech Pacific Ventures LP, Beijing Shiji Zhizhou Venture Capital Co., Ltd., Zhang Xianyun and Chen Zhen on November 21, 2015.
ZHONGHE CO., LTD. is a China-based company, principally engaged in textile printing and dyeing and new energy lithium business. The Company operates its businesses through two segments. The Textile Printing and Dyeing segment is engaged in the research and development, manufacture and distribution of medium and high quality cotton leisure clothing fabrics. Its New Energy Lithium segment is engaged in the exploiting and distribution of lithium products, and the development and distribution of lithium battery materials. The Company is also engaged in trading business. The Company distributes its products within domestic market and to overseas markets.
Zhonghe Co., Ltd. cancelled the acquisition of 18.92% stake in Tianjin B&M Science and Technology Joint-Stock Co., ltd. from Infotech Pacific Ventures LP, Beijing Shiji Zhizhou Venture Capital Co., Ltd., Zhang Xianyun and Chen Zhen.
ZHONGHE CO., LTD. 
