Nanfeng Chemical Company to acquire 100% stake in Tianjin Nanfeng Trading Co.

NetEase Finance December 3 South Wind chemical Friday evening issued a notice said, the company intends to acquire Tianjin South Wind Trading Co., Ltd. 100% Equity, the transfer of equity does not constitute a related transaction, nor constitutes a major asset reorganization. The announcement shows that the Nanfeng chemical and wholly-owned subsidiary of Shanxi International Trade Agreement, the acquisition of Shanxi Guomao wholly-owned subsidiary of Tianjin Nanfeng Trading Co., Ltd. all equity.　　After the completion of the equity acquisition, Shanxi International trade no longer hold the Tianjin trading shares, Tianjin Trade become a wholly-owned subsidiary of South Chemical, into the company's consolidated statements.　　Nanfeng Chemical said, the equity acquisition further integration of the group's import and export trade business resources, rationalize and standardize the company's property relations with the subsidiaries.　　Tianjin Trade is a wholly-owned subsidiary of Shanxi Guomao Holdings, established in November 31, 2002, the registered capital of 5.033 million yuan, mainly self-and agent all kinds of goods and technology import and export. As of December 31, 2009, Tianjin total trade amounted to 64,199,688.30 yuan, total liabilities 52,249,055.19 Yuan, net assets 11,950,633, 11 Yuan, 2009 to achieve the main business income 266,797,782 yuan, total profit 5,　　605,471.32 yuan, net profit 3,405,185.66 Yuan. As of September 30, 2010, Tianjin total trading assets of 68,545,630.91 Yuan, total liabilities of 53,885,496.55 Yuan, net assets 14,660,134 36 Yuan, 2010 1 to September to achieve the main business income of 228,662,437 yuan,　　Total profit 3,603,768.38 yuan, net profit 2,709,501.25 Yuan. Nanfeng Chemical also announced that the company intends to invest 50 million yuan in cash, investment set up a southerly group daily sales company, holding 100% of shares.