[ET Net News Agency, 23 October 2019] Kai Yuan Holdings Limited (01215) said its
subsidiary Shanghai Top Star Advanced Materials Co. Ltd. has agreed to acquire 30.875%
equity interest of Beijing Chemical Reaction Engineering Science Technology Co., Ltd. (the
target company) at the consideration of RMB12.35 million. Upon completion, the group will
be interested in 37.125% of the equity interest of the target company.
The target company is permitted to engage in research and development, promotion,
transfer, consultation and services in relation to technology; sale of self-developed
products and chemical products (excluding dangerous chemicals and category I precursor
chemicals). It indirectly owns a project, which comprises the construction of production
facilities and office on a land parcel situated in Tieying Chemical Industry Park of
Laoling City in Shandong Province, the PRC. (RC)