Guangzhou Wanbao Group Co.,Ltd signed a transfer agreement to acquire 8.57% stake in Guangdong Jinming Machinery Co., Ltd. from Ma Zhenxin, Yu Suqin, and Ma Jiazhen for approximately CNY 240 million.
January 02, 2019
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Guangzhou Wanbao Group Co.,Ltd signed a transfer agreement to acquire 8.57% stake in Guangdong Jinming Machinery Co., Ltd. (SZSE:300281) from Ma Zhenxin, Yu Suqin and Ma Jiazhen for approximately CNY 240 million on January 3, 2019. Guangzhou Wanbao will acquire 30.51 million shares, 3.39 million shares and 2.02 million shares representing 7.28% stake, 0.81% stake and 0.48% stake from Ma Zhenxin, Yu Suqin, and Ma Jiazhen respectively at CNY 6.68 per share. Post completion, Ma Zhenxin, Yu Suqin, and Ma Jiazhen will continue to hold 21.85%, 2.43% and 4.4% stake from earlier 29.13%, 3.24% and 4.89% stake respectively.
GUANGDONG JINMING MACHINERY CO., LTD. is principally engaged in the research, development, design, manufacture and distribution of plastic machines. The Company primarily provides film blow molding equipment, including equipment for packaging films, agricultural films, geomembrane and specialty films, as well as blow molding machines. Its products are applied in the manufacture of packaging films, agricultural films, geomembrane, specialty films, beverage bottles, oil tanks and automobile tanks, among others. The Company distributes its products in domestic market and to overseas markets. The Company also engages in development of intelligent equipments through its subsidiary.
Guangzhou Wanbao Group Co.,Ltd signed a transfer agreement to acquire 8.57% stake in Guangdong Jinming Machinery Co., Ltd. from Ma Zhenxin, Yu Suqin, and Ma Jiazhen for approximately CNY 240 million.
GUANGDONG JINMING MACHINERY CO., LTD. 
