Shandong Hiking International Co.,Ltd completed the acquisition of Shandong Hiking New Materials Technology Co., Ltd. from Hiking Group Co., Ltd.
July 11, 2023
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Shandong Hiking International Co.,Ltd (SHSE:600735) agreed to acquire Shandong Hiking New Materials Technology Co., Ltd. from Hiking Group Co., Ltd. for CNY 160 million on June 21, 2023. The transaction has been approved by the board of Shandong Hiking International. As on July 7, 2023, Shandong Hiking International shareholders approved the deal.
Shandong Hiking International Co.,Ltd (SHSE:600735) completed the acquisition of Shandong Hiking New Materials Technology Co., Ltd. from Hiking Group Co., Ltd. on July 12, 2023.
Shandong Hiking International Co Ltd is a China-based company mainly engaged in the new trade-import and export business. The Company operates three businesses. New trade-import and export business includes hair products export business, textile and clothing export business, second-hand car export business and cross-border import e-commerce business. New materials-new graphite material business includes the mining, production and processing of natural flake graphite. Others-elderly care business provides domestic elderly care institutions with full-process consulting services, covering overall planning, functional design, institutional preparation, personnel training, elderly care system construction and operation management. The Company mainly conducts businesses within the domestic market.