Huaibei City Construction Investment Holding Group Company Limited cancelled the acquisition of 5.11% stake in Jiangsu Lugang Culture Co., Ltd. from a group of seller.
July 30, 2020
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Huaibei City Construction Investment Holding Group Company Limited signed a framework agreement to acquire 5.11% stake in Jiangsu Lugang Culture Co., Ltd. (SHSE:601599) from a group of sellers on November 22, 2019. The group of sellers include Qian Wenlong, Miao Jinyi, Xu Qun, Yuan Aiguo, Huang Chunhong, Zou Guodong, and Zou Yuping. The sellers will sell 45.6 million shares. A contract will be signed later. On December 30, 2019, the Jiangsu Lugang announced that the parties still need to further discuss and improve the transfer plan and the transaction details and thus the signing of the framework agreement period was extended from December 31, 2019 to June 30, 2020.
Huaibei City Construction Investment Holding Group Company Limited cancelled the acquisition of 5.11% stake in Jiangsu Lugang Culture Co., Ltd. (SHSE:601599) from a group of sellers on July 1, 2020.
Zhewen Pictures Group Co Ltd, formerly Jiangsu Lugang Culture Co Ltd, is principally engaged in the manufacture and distribution of knitted woolen yarns and worsted woolen fabrics. The Company primarily provides worsted yarns, semi-worsted yarns and worsted woolen fabrics. Its products are applied in the manufacture of shirts, suits and others. The Company is also engaged in the production and distribution of traditional television (TV) series, the investment and distribution of movies, as well as the development, production and distribution of new media products such as network dramas. Through its subsidiaries, the Company also engages in hotel business. The Company conducts its businesses in domestic and overseas markets.
Huaibei City Construction Investment Holding Group Company Limited cancelled the acquisition of 5.11% stake in Jiangsu Lugang Culture Co., Ltd. from a group of seller.
ZHEWEN PICTURES GROUP CO.,LTD 