Shangfeng mergers and acquisitions have been successful approved
On July 16, 2015, Zhejiang Shangfeng Industrial Co., Ltd. (referred to as: Shangfeng Gaoke) issued on the upper edge of the high division shares to purchase assets and raise supporting funds and related transactions received the China Securities Regulatory Commission listed companies merger and Reorganization Committee audit through the company shares and the Board of the Bulletin: By the China Securities Regulatory Commission listed companies in the merger and reorganization Committee held on July 15, 2015 in 2015, the 60th merger and reorganization of the Working Conference review, Shangfeng issued shares purchase assets of the issue of unconditional approval.
The restructuring is well prepared and is approved unconditionally.
On June 5, the company received the notice of feedback from the China securities regulatory commission ( hereinafter referred to as the "China securities regulatory commission") and then made active preparation. Shangfeng together with independent financial advisers and other intermediaries to the "feedback" has been carefully studied and implemented, and with the June 29, in accordance with the request of the "feedback" on the issues involved in the supplementary information and questions answered. During the preparation period, Shangfeng has also passed the approval of the Ministry of Commerce through the concentration of antitrust review and on Zara Green Hongkong Limited Strategic Investment in the company's application. The SFC approved the unconditional approval, whether in the acquisition of Yuxing Technology Development (Shenzhen) Co., Ltd. of the quality, the preparation work of Shangfeng is a full affirmation, which has injected a boost to the company's work after the reorganization. Shangfeng will maximize the protection of the majority of investors interests in accordance with the relevant content of the reorganization plan.
After the success of the restructuring, the company will acquire 100% equity of Yuxing technology development (shenzhen) Co., Ltd. in a combination of cash and issue shares. Yuxing technology will become a wholly-owned subsidiary of Shangfeng, which will provide new software new power in the field of environmental protection. Shangfei will become the only compant in China that has hardware and software and the provider that fully provide the overall environmental protection solution. The future of the company is immeasurable.
As a comprehensive service leading enterprise in the field of environmental monitoring, with the strategic goal of monitoring, governance, harmony and development, Yuxing technology has gradually developed into a whole industry chain service provider in the field of environmental protection and water conservancy, which set up the brand image of monitoring, management and operation. In the next three years, Yuxing Technology will contribute at least 120 million yuan, 156 million yuan and 210 million yuan to the parent company, which will greatly improve profitability of the company and benifit more to investors.