Poly United Chemical Holding Group Co., Ltd. entered into Property Rights Transaction Contract to acquire 65% stake in Hunan Jinjuneng Technology Co., Ltd. from Hunan Xintiandi Investment Holding Group Co Ltd and Xintiandi Jiesi Industrial Investment Fund Phase II (Limited Partnership) for CNY 43.6 million.
December 22, 2020
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Poly United Chemical Holding Group Co., Ltd. entered into Property Rights Transaction Contract to acquire 65% stake in Hunan Jinjuneng Technology Co., Ltd. from Hunan Xintiandi Investment Holding Group Co Ltd and Xintiandi Jiesi (Shannan) Industrial Investment Fund Phase II (Limited Partnership) for CNY 43.6 million recently. Poly United Chemical won the bid to acquire Hunan Jinjuneng Technology Co., Ltd.’s 65% stake for CNY 43,569,200, agreeing to acquire 23.326% stake from Hunan Xin Tian Di Investment Holding Group Co., Ltd. and 41.674% stake from Xintiandi Jiesi (Shannan) Industrial Investment Fund Phase II (Limited Partnership). After the transfer, Hunan Xin Tian Di Investment Holding Group Co., Ltd. will still hold 15.754% stake. As at July 31, 2020, Hunan Jinjuneng Technology had total assets of CNY 105.83 million and net assets of CNY 82.78 million.
Poly Union Chemical Holding Group Co.,Ltd., formerly GUIZHOU JIULIAN INDUSTRIAL EXPLOSIVE MATERIAL DEVELOPMENT CO., LTD, is a China-based company principally engaged in the research, development, manufacture and distribution of civil explosives. The Company's main products consist of explosives, tubes, ropes and seismic charges, among others. The Company is also involved in the provision of explosive engineering solutions and related technical services. The Company operates its business in domestic market, with Guizhou Province and Gansu Province as its main markets.
Poly United Chemical Holding Group Co., Ltd. entered into Property Rights Transaction Contract to acquire 65% stake in Hunan Jinjuneng Technology Co., Ltd. from Hunan Xintiandi Investment Holding Group Co Ltd and Xintiandi Jiesi Industrial Investment Fund Phase II (Limited Partnership) for CNY 43.6 million.
POLY UNION CHEMICAL HOLDING GROUP CO., LTD. 
