Beiqing Huanneng Group Co., Ltd. (hereinafter referred to as the "Company" or "Beiqing Huanneng") held the 48th meeting of the 10th Board of Directors on February 8, 2022, at which the "Proposal on the Acquisition of 95% of the Equity of Yinchuan Baolute Biotechnology Co., Ltd." was deliberated and passed.
In order to focus on the overall strategic development plan of kitchen organic waste treatment and waste edible oil and fat resource utilization business, the Company intends to acquire 48.03627% and 46.96373% of the equity of Yinchuan Baolute Biotechnology Co., Ltd. (hereinafter referred to as "Baolute" or "The Target Company") held by the counterparties Cao Jianyi and Jin Yuru respectively in cash. According to the Equity Transfer Agreement on Yinchuan Baolute Biotechnology Co., Ltd. signed by the two parties on February 8, 2022 in Lixia District, Jinan, the transfer price corresponding to the subject equity is tentatively set at 125.4 million yuan (capitalization: 100 million yuan). After the completion of the acquisition, the company will hold 95% of the equity of Baolute, which will become a subsidiary of Beiqing Huanneng Holdings and be included in the company's consolidated statements. According to the Rules Governing the Listing of Stocks on the Shenzhen Stock Exchange and the relevant provisions of the Articles of Association of the Company, the transaction did not constitute a related party transaction, nor did it constitute a major asset restructuring as stipulated in the Measures for the Administration of Material Asset Restructuring of Listed Companies. The transaction has been approved by the company's board of directors and does not need to be submitted to the company's general meeting of shareholders for consideration.
Beiqing Huanneng was established on March 21, 1988, the legal representative is Kuang Zhiwei, the registered capital is about 191 million yuan, and the business scope includes kitchen waste treatment; municipal solid waste commercial services; goods import and export. The Company is indirectly owned by Hongyuan Limited by 16.24%. The company has 10 foreign investment enterprises, including Sichuan Meiya Silk Co., Ltd.
Source: Polaris Solid Waste Network Author: Qian Chenfei Gu Haifeng Wang Mulan
Published: February 9, 2022;
Image source: Internet;
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