Guangxi Nanning Waterworks Co., Ltd. cancelled the acquisition of Nanning Wuming Water Supply Co., Ltd. from Nanning Jianning Water Investment Group Co., Ltd.
June 18, 2020
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Guangxi Nanning Waterworks Co., Ltd. (SHSE:601368) agreed to acquire Nanning Wuming Water Supply Co., Ltd. from Nanning Jianning Water Investment Group Co., Ltd. for CNY 40.3 million on June 19, 2019. The payment for the acquisition will be in cash. For the year ended December 31, 2018, Nanning Wuming Water Supply Co., Ltd. reported total assets of approximately CNY 120 million, net assets of CNY 32.5 million, revenue of CNY 39.8 million and net income of CNY 1.4 million. The audit committee of the board of directors of Guangxi Nanning Waterworks Co., Ltd. approved the transaction at the 3rd meeting in 2019. The 8th meeting of the 4th directorate of Guangxi Nanning Waterworks Co., Ltd. approved the transaction.
Guangxi Nanning Waterworks Co., Ltd. (SHSE:601368) cancelled the acquisition of Nanning Wuming Water Supply Co., Ltd. from Nanning Jianning Water Investment Group Co., Ltd. on June 19, 2020.
Guangxi Nanning Waterworks Co.,Ltd. is principally engaged in three business segments: water supply, waste water treatment and engineering construction. Water Supply segment is engaged in the production and distribution of tap water. Waste Water Treatment segment is engaged in the treatment of life waste water. Engineering Construction segment involves in the investment, construction, operation and maintenance of water supply and waste water treatment facilities. The Company operates its businesses primarily in Nanning, Guangxi autonomous region, China.
Guangxi Nanning Waterworks Co., Ltd. cancelled the acquisition of Nanning Wuming Water Supply Co., Ltd. from Nanning Jianning Water Investment Group Co., Ltd.
GUANGXI NANNING WATERWORKS CO.,LTD. 
