Liu Yong cancelled the acquisition of 5% stake in Ningbo Xianfeng New Material Co.,Ltd from Lu Xianfeng.
September 26, 2020
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Liu Yong signed share transfer agreement to acquire 5% stake in Ningbo Xianfeng New Material Co.,Ltd (SZSE:300163) from Lu Xianfeng for CNY 74.2 million on September 27, 2019. Before the share change registration, Liu Yong shall prepay CNY 40 million to Lu Xianfeng, and the balance shall be paid by Liu Yong in installments or in one lump sum within 12 months after the prepayment; Within 2 working days after the official signing of the agreement, both parties shall jointly apply to the Shenzhen Stock Exchange for compliance confirmation. Lu Xianfeng shall, within 5 working days after Lu Xianfeng completes the prepayment of the equity transfer, go to the registration and settlement company to complete the formalities of transferring the underlying shares to the transferee. The lock up period for Mr. Liu Yong is 6 months.
Liu Yong cancelled the acquisition of 5% stake in Ningbo Xianfeng New Material Co.,Ltd (SZSE:300163) from Lu Xianfeng on September 27, 2020.
NINGBO XIANFENG NEW MATERIAL CO., LTD is a China-based company principally engaged in the research, development, production and sale of polymer composite sunshade materials. The Company's main products include sunshine fabrics, coated fabrics and aluminized fabrics. The Company is also involved in the manufacture and sale sunshades, such as roller blinds, vertical blinds, curtains, awnings, upholstery and related accessories. The Company distributes its products in domestic market and to overseas markets.