Guangdong Ganhua Science and Industry Co., Ltd. acquired an additional 20% stake in Shenyang Energetic Metal Materials Manufacturing Co., Ltd. for CNY 68.3 million.
August 09, 2021
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Guangdong Ganhua Science and Industry Co., Ltd. (SZSE:000576) acquired an additional 20% stake in Shenyang Energetic Metal Materials Manufacturing Co., Ltd. for CNY 68.3 million on August 10, 2021. After this agreement comes into effect, Guangdong Ganhua Science and Industry Co., Ltd shall, within 10 working days after fully satisfying the payment prerequisites of this agreement, shall transfer the consideration of the underlying equity transfer of CNY 68.33 million. The payment shall be made by cash transfer to the bank account designated by Longyan Hongwei Amorphous Metal Materials Co., Ltd. in one time. After the completion of the acquisition, Guangdong Ganhua Science and Industry Co., Ltd. will hold a 90% stake in Shenyang Energetic Metal, and Longyan Hongwei Amorphous Metal Materials Co., Ltd. won’t hold more shares in Shenyang Energetic Metal Materials Manufacturing Co., Ltd. Shenyang Energetic Metal Materials Manufacturing Co., Ltd. reported total assets of CNY 134.9 million and net assets of CNY 100.9 million for March 31, 2021. This transaction is within the approval authority of the company’s management and does not need to be submitted to the board of directors and Deliberation at the general meeting of shareholders.
Guangdong Ganhua Science and Industry Co., Ltd. (SZSE:000576) completed the acquisition of additional 20% stake in Shenyang Energetic Metal Materials Manufacturing Co., Ltd. on August 10, 2021.
Guangdong Ganhua Science & Industry Co Ltd, formerly Jiangmen Sugarcane Chemical Factory Group Co Ltd, is a company mainly engaged in research, development and manufacturing of tungsten alloy prefabricated fragments. The Company operates three segments. The Fragment segment provides prefabricated fragments, including tungsten posts, tungsten rings and tungsten balls. The products are used in defense technology. The Power Products segment is involved in design, production and sales of power converters for the conversion of electricity in different modes. The products are applied in various weapon platforms, such as airborne, shipborne, and ammunition. The Sugar Trading segment operates the trading of white granulated sugar.
Guangdong Ganhua Science and Industry Co., Ltd. acquired an additional 20% stake in Shenyang Energetic Metal Materials Manufacturing Co., Ltd. for CNY 68.3 million.