Aoyuan Capital signed a share transfer contract to acquire 50% stake in Guangdong Jinao Commercial Factoring Co., Ltd. from Kingfa Sci. & Tech. Co., Ltd. for CNY 760 million.
April 25, 2022
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Aoyuan Capital signed a share transfer contract to acquire 50% stake in Guangdong Jinao Commercial Factoring Co., Ltd. from Kingfa Sci. & Tech. Co., Ltd. (SHSE:600143) for CNY 760 million in November 2021. As on January 22, 2022, Kingfa Sci signed the Debt Repayment Framework Agreement with Aoyuan Capital, Aoyuan Group and Guangdong Jinao Commercial.
Kingfa Sci&Tech Co Ltd is a China-based company mainly engaged in the research and development, production and sales of new chemical materials. The Company is also engaged in the production and sales of medical consumables. The Company's main products include modified plastics, environmentally friendly high-performance recycled plastics, fully biodegradable plastics, special engineering plastics, carbon fiber and composite materials, light hydrocarbons and hydrogen energy, polypropylene resins, styrene resins and medical health polymer materials products. The Company's products are widely used in automobiles, home appliances, electronics and electrical engineering, communications electronics, new infrastructure, new energy, modern agriculture, modern logistics, rail transportation, aerospace, high-end equipment, medical health and other industries.
Aoyuan Capital signed a share transfer contract to acquire 50% stake in Guangdong Jinao Commercial Factoring Co., Ltd. from Kingfa Sci. & Tech. Co., Ltd. for CNY 760 million.