echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Food News > Food Articles > Bank of Quantum Tech plans to acquire 60% of Jinfengyuan shares for 213 million yuan...

    Bank of Quantum Tech plans to acquire 60% of Jinfengyuan shares for 213 million yuan...

    • Last Update: 2021-10-10
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    The Beijing News reporter learned on September 28 that the seed company Quanyin Hi-Tech announced that it plans to acquire 60% of the shares of Xinjiang Jinfengyuan Seed Co.
    , Ltd.
    (hereinafter referred to as "Jinfengyuan"), which has just been delisted from the New Third Board

    .
    After the transaction is completed, Jinfengyuan will become the holding subsidiary of Quan Yin Hi-Tech

    .

    It is reported that Jinfengyuan is an enterprise integrating crop seed breeding and promotion in the Xinjiang Uygur Autonomous Region
    .
    In May 2016, Jinfengyuan was listed on the National Equities Exchange and Quotations System for SMEs, with the stock name Jinfengyuan and the stock code 836302

    .
    On September 17, 2021, Jinfengyuan terminated its listing

    .

    According to the announcement, the board of directors of Quanyin Hi-Tech deliberated and approved the "Proposal on Acquisition of Equity in Xinjiang Jinfengyuan Seed Industry Co.
    , Ltd.
    " and planned to use its own or self-raised funds of 213 million yuan to acquire 60% of Jinfengyuan's equity

    .
    After the transaction is completed, Jinfengyuan will become the holding subsidiary of Quan Yin Hi-Tech

    .

    According to Quan Yin Hi-Tech, after the completion of the transaction, on the one hand, the company can further expand its sales scale, especially the sales of cotton seeds, and increase new sources of profit
    .
    On the other hand, it can accelerate the acquisition of the cotton seed market share in China's core production areas, further expand the industrial layout, thereby enhancing the company's overall competitiveness and sustainable development capabilities, in line with the company's long-term development goals

    .

    This article is an English version of an article which is originally in the Chinese language on echemi.com and is provided for information purposes only. This website makes no representation or warranty of any kind, either expressed or implied, as to the accuracy, completeness ownership or reliability of the article or any translations thereof. If you have any concerns or complaints relating to the article, please send an email, providing a detailed description of the concern or complaint, to service@echemi.com. A staff member will contact you within 5 working days. Once verified, infringing content will be removed immediately.

    Contact Us

    The source of this page with content of products and services is from Internet, which doesn't represent Echemi's opinion. If you have any queries, please write to service@echemi.com. It will be replied within 5 days.

    Moreover, if you find any instances of plagiarism from the page, please send email to service@echemi.com with relevant evidence.