Hunan Xiangliang Food Technology Co., Ltd. signed equity transfer agreement to acquire remaining 18% stake in Hunan Jinjian Frozen Food Co., Ltd. from Jinjian Cereals Industry Co.,Ltd. for CNY 1.
March 24, 2023
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Hunan Xiangliang Food Technology Co., Ltd. signed equity transfer agreement to acquire remaining 18% stake in Hunan Jinjian Frozen Food Co., Ltd. from Jinjian Cereals Industry Co.,Ltd. (SHSE:600127) for CNY 1 on March 24, 2023. Hunan Jinjian Frozen Food Co., Ltd. reported financial as per December31, 2022, total assets of CNY 119.3052 million, net assets are -31.1185 million, operating income is 47.4732 million, and net profit is -18.9404 million. Jinjian Cereals Industry Co.,Ltd. board unanimously approved the transaction. Transaction is still subject to shareholder approval of Jinjian Cereals Industry Co.,Ltd.
JINJIAN CEREALS INDUSTRY CO., LTD. is a China-based company principally engaged in the processing and sales of grain, oil, food and other products. The Company is also engaged in the pharmaceuticals, agricultural products trading, as well as the import and export business. The Company's main products include rice, flour, noodles, vegetable oils, milk, medicines, candy, jellies and others. The Company mainly conducts its business in domestic market.
Hunan Xiangliang Food Technology Co., Ltd. signed equity transfer agreement to acquire remaining 18% stake in Hunan Jinjian Frozen Food Co., Ltd. from Jinjian Cereals Industry Co.,Ltd. for CNY 1.
JINJIAN CEREALS INDUSTRY CO.,LTD. 
