Hainan Haiers Medical Equipment Co., Ltd. agreed to acquire Hainan Baoting Nanfan Seed Industry High-tech Industrial Base Co., Ltd. from Hainan Shennong Technology Co., Ltd. for approximately CNY 170 million.
January 03, 2021
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Hainan Haiers Medical Equipment Co., Ltd. agreed to acquire Hainan Baoting Nanfan Seed Industry High-tech Industrial Base Co., Ltd. from Hainan Shennong Technology Co., Ltd. (SZSE:300189) for approximately CNY 170 million on January 4, 2021. An agreement will also be signed. On January 5, 2021, an agreement is signed to acquire 100% in Hainan Baoting Nanfan Seed Industry High-tech Industrial Base Co., Ltd. for CNY 183 million. Within 3 days from the date of signing of the transaction agreement, CNY 30.4 million will be paid. On the day when the change in the industrial and commercial registration of the target company’s shareholders is completed, the balance will be paid. After signing of the agreement, CNY 36.6 million is paid. As on October 31, 2020, Hainan Baoting Nanfan Seed Industry High-tech Industrial Base Co., Ltd. reported total assets of CNY 132.4 million, net liabilities of CNY 67.3 million and total debt of CNY 195.2 million. In the 6th Board of Directors and the 10th meeting of the 6th Board of Supervisors on January 4, 2021, Hainan Shennong Technology Co., Ltd. passed the transaction.
Hainan Shennong Technology Co., Ltd., formerly Hainan Shennong Gene Technology Co., Ltd, is a China-based company principally involved in the breeding, production and sales of hybrid rice seeds, as well as the provision of the related technical services. The Company mainly provides hybrid rice seeds, corn seeds, vegetable seeds, melon and fruit seeds, as well as cotton seeds, among others. The Company is also engaged in the provision of supply chain services such as commodities and electronic components. The Company operates its businesses primarily in Mainland China.
Hainan Haiers Medical Equipment Co., Ltd. agreed to acquire Hainan Baoting Nanfan Seed Industry High-tech Industrial Base Co., Ltd. from Hainan Shennong Technology Co., Ltd. for approximately CNY 170 million.