Bondex Supply Chain Management Co., Ltd. agreed to acquire remaining 49% stake in Safround Logistics Co., Ltd. from Ningbo Hongtong Investment Management Partnership Enterprise (L.P.) for approximately CNY 690 million.

Bondex Supply Chain Management Co., Ltd. (SHSE:603836) agreed to acquire remaining 49% stake in Safround Logistics Co., Ltd. from Ningbo Hongtong Investment Management Partnership Enterprise (L.P.) for approximately CNY 690 million on October 12, 2022. Consideration will be paid in four tranches. Bondex Supply Chain Management Co., Ltd. board of directors approved the deal.

For the period end May 31, 2022, CNY 1452.1555 million of total assets and CNY 357.8324 million of Owners equity. As of the December 17, 2022, Bondex Supply Chain has paid 45% of the purchase price (a total of CNY 308.7 million ) to the counterparty Ningbo Hongtong Investment, and the remaining 55% will be paid in accordance with the agreement.