Tian Jin Bohai Chemical Co.,Ltd. entered into an agreement to acquire 50.59% stake in Tianjin Zhongchao Paper Industry Co., Ltd. from Zhongchao Industrial Co., Ltd, Beijing Renyin Technology Industry and Trade Co., Ltd. and Kunlun Investment Co. Ltd for CNY 22.7 million.
December 28, 2021
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Tian Jin Bohai Chemical Co.,Ltd. (SHSE:600800) entered into an agreement to acquire 50.59% stake in Tianjin Zhongchao Paper Industry Co., Ltd. from Zhongchao Industrial Co., Ltd, Beijing Renyin Technology Industry and Trade Co., Ltd. and Kunlun Investment Co. Ltd for CNY 22.7 million on December 28, 2021. Tian Jin Bohai Chemical will acquire 25.94% stake in Tianjin Zhongchao Paper Industry Co., Ltd. from Zhongchao Industrial Co., Ltd for CNY 11.6 million, 17% stake in Tianjin Zhongchao Paper Industry Co., Ltd. from Beijing Renyin Technology Industry and Trade Co., Ltd. for CNY 7.6 million and 7.65% stake in Tianjin Zhongchao Paper Industry Co., Ltd. from Kunlun Investment Co. Ltd for CNY 3.4 million. After completion of the transaction, Tian Jin Bohai Chemical will hold 75.07% stake in Tianjin Zhongchao Paper Industry Co., Ltd. The transaction also need to undergo procedures required by laws and regulations such as changes in industrial and commercial registration. This transaction has been reviewed and approved at the 18th meeting of the ninth board of directors of the Tian Jin Bohai Chemical and the third extraordinary general meeting of shareholders in 2021.
Tian Jin Bohai Chemical Co Ltd, formerly Tian Jin Global Magnetic Card Co Ltd, is a China-based company principally engaged in the manufacturing and sales of magnetic cards, smart card application systems and related equipment. The Company operates through magnetic card segment, printing segment and equipment segment. The Company's data card products include magnetic stripe cards and smart cards. The printed products include packaging and decorating products, publications and tickets. The smart card applications and related equipment products include city card management system and related equipment, cards and others. The Company is also engaged in modern petrochemical business, and its main products are propylene products. The Company mainly conducts its businesses in the domestic and to overseas markets.
Tian Jin Bohai Chemical Co.,Ltd. entered into an agreement to acquire 50.59% stake in Tianjin Zhongchao Paper Industry Co., Ltd. from Zhongchao Industrial Co., Ltd, Beijing Renyin Technology Industry and Trade Co., Ltd. and Kunlun Investment Co. Ltd for CNY 22.7 million.
TIAN JIN BOHAI CHEMICAL CO.,LTD. 
