Ningbo Meishan Free Trade Port Area Dingheng Tianxia Investment Co., Ltd. completed the acquisition of Xinjiang Coal Exchange Co., Ltd. from Hainan RuiZe New Building Material Co.,Ltd.
August 23, 2022
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Ningbo Meishan Free Trade Port Area Dingheng Tianxia Investment Co., Ltd. agreed to acquire 16.74% stake in Xinjiang Coal Exchange Co., Ltd. from Hainan RuiZe New Building Material Co.,Ltd (SZSE:002596) for CNY 85.50 million on May 14, 2022. Xinjiang Coal Exchange reported the Total assets of CNY 922,458,100 and Net asset of CNY 510,798,300 as of March 31, 2022. Board of directors of Hainan RuiZe New Building Material Co.,Ltd approved the transaction.
Ningbo Meishan Free Trade Port Area Dingheng Tianxia Investment Co., Ltd. completed the acquisition of Xinjiang Coal Exchange Co., Ltd. from Hainan RuiZe New Building Material Co.,Ltd (SZSE:002596) on August 24, 2022.
Hainan RuiZe New Building Material Co., Ltd. is a China-based company principally engaged in the production and sales of non-metallic mineral products. The Company mainly operates through four segments. The Commercial concrete segment is mainly engaged in the production and sales of various strength grades of ordinary concrete, marine concrete, ecological concrete, colored landscape concrete and decorative concrete. The Cement segment is mainly engaged in the production and sales of bulk PO42.5R cement. The Landscaping segment is mainly engaged in landscape design, landscape engineering construction, landscaping maintenance services and seedling planting and sales. The Municipal Sanitation segment is engaged in municipal solid waste cleaning, collection, transportation, disposal, recycling and utilization as well as urban afforestation management and maintenance. The Company mainly operates in the domestic market, with Hainan as the main market.
Ningbo Meishan Free Trade Port Area Dingheng Tianxia Investment Co., Ltd. completed the acquisition of Xinjiang Coal Exchange Co., Ltd. from Hainan RuiZe New Building Material Co.,Ltd.