Fujian Yuanli Active Carbon Co., Ltd completed acquisition of acquire Guangzhou Ice Bird Network Co., Ltd. from Shao Hantao, Zhou Lin, Zhangshu Ruiying Investment Management Center (limited partnership) and Zhangshu Ice Bird Investment Management Center (LP).
January 04, 2018
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Fujian Yuanli Active Carbon Co., Ltd (SZSE:300174) signed an equity transfer agreement to acquire Guangzhou Ice Bird Network Co., Ltd. from Shao Hantao, Zhou Lin, Zhangshu Ruiying Investment Management Center (limited partnership) and Zhangshu Ice Bird Investment Management Center (LP) for approximately CNY 160 million recently. Within 5 working days since the entering in the equity transfer agreement, Fujian Yuanli Active Carbon Co., Ltd will pay CNY 40 million. Out of CNY 40 million, Shao Hantao will receive CNY 16.9 million, Zhou Lin will receive CNY 6.9 million, Zhangshu Ruiying Investment Management Center (limited partnership) will receive CNY 8.4 million and Zhangshu Ice Bird Investment Management Center (LP) will receive CNY 7.7 million.
Within 15 days since the delivery of the underlying equity, the remaining CNY 120 million will be paid. Shao Hantao will receive CNY 50.9 million, Zhou Lin will receive CNY 20.8 million, Zhangshu Ruiying Investment Management Center (limited partnership) will receive CNY 25.1 million and Zhangshu Ice Bird Investment Management Center (LP) will receive CNY 23.1 million. Also, Shao Hantao and Zhou Lin promise that Guangzhou Ice Bird Network Co., Ltd. will produce, during the period of 2018-2020, net revenue of CNY 20 million, CNY 30 million and CNY 40 million respectively. In case said revenue is lower than promised, sellers Shao Hantao and Zhou Lin will have to compensate Fujian Yuanli Active Carbon Co., Ltd. by paying 3 times the difference between promised revenue and actual revenue.
The transaction has been approved by Board of Directors of Fujian Yuanli Active Carbon Co., Ltd during the 38th meeting of the 3rd directorate as well as during the 25th meeting of the 3rd session of the Board of Supervisors on December 18, 2017.
Fujian Yuanli Active Carbon Co., Ltd (SZSE:300174) completed acquisition of acquire Guangzhou Ice Bird Network Co., Ltd. from Shao Hantao, Zhou Lin, Zhangshu Ruiying Investment Management Center (limited partnership) and Zhangshu Ice Bird Investment Management Center (LP) on January 5, 2018.
Fujian Yuanli Active Carbon Co.,Ltd. is a China-based company principally engaged in the production and sales of wood activated carbon. The Company's main products include activated carbon used in sugar, monosodium glutamate, food, chemicals, pharmaceuticals, injection, water treatment, as well as near-indoor air purification of activated carbon, organic solvent recovery carbon, natural gas storage carbon, oil and gas special grain range powder carbon, special field with high adsorption power phosphate carbon, acetone adsorption special carbon and other new products. The Company is also involved in sodium silicate production, environmental engineering and online game businesses. The Company distributes its products in domestic market and to overseas markets.
FUJIAN YUANLI ACTIVE CARBON CO.,LTD. 
