Chengdu Hongqi Chain Co.,Ltd. cancelled the acquisition of 51% stake in Chengdu Xinlong Baiyitong Trading Company from Feng Haotian and Chen Guangjun
January 25, 2019
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Chengdu Hongqi Chain Co.,Ltd. (SZSE:002697) signed an equity transfer agreement to acquire 51% stake in Chengdu Xinlong Baiyitong Trading Company from Feng Haotian and Chen Guangjun for CNY 2.6 million on January 26, 2018. Payment of the consideration will be done in one single installment within 60 days since completion of delivery of the equity. The board of Chengdu Hongqi Chain Co.,Ltd. approved the transaction in the 17th meeting of 3rd directorate on January 26, 2018. The transaction should be completed within 15 working days since the entering of the agreement.
Chengdu Hongqi Chain Co.,Ltd. (SZSE:002697) cancelled the acquisition of 51% stake in Chengdu Xinlong Baiyitong Trading Company from Feng Haotian and Chen Guangjun on January 26, 2019.
Chengdu Hongqi Chain Co., Ltd. is a China-based company principally engaged in the operation of regular chain supermarkets. The Company mainly provides daily-used products, cigarettes, wines, food, grains, oil, beverages, clothing, shoes, hats and textiles and others. The Company also provides autobus card recharging service, ticket consignment service, payment of telecommunication and natural gas fee, as well as electronic payment service. The Company conducts its businesses mainly in Sichuan Province, China.
CHENGDU HONGQI CHAIN CO.,LTD. 
