Jiangxi Heyi Chemicals Co., Ltd.

Pengze Ecological Industry Park, Jiujiang, Jiangxi, China

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Huapont Pharm. and Noposion Became the Shareholders of Jiangxi Heyi Chemicals Co., Ltd.

Huapont Pharm. and Noposion Became the Shareholders of Jiangxi Heyi Chemicals Co., Ltd.

It is reported on December 22nd, 2010 that Huapont Pharm. (002004) and Noposion (002215) entered into the agreement on outside investment on December 20th. Under the agreement, Huapont Pharm. and Noposion plan to invest RMB 41.6 million in increasing capital and stock of Jiangxi Heyi Chemicals Co., Ltd. and acquire 20% of shares respectively. Among it, RMB 20 million will be used as registered capital and the remaining RMB21.6 million will be used as capital reserve. After capital increase, its registered capital will reach RMB 100 million.
 
It is learned that Heyi with registered capital of RMB 60 million was founded on October 27th, 2005 and specializes in pesticide (license to produce) and the production, processing and sales of fine chemical products (excluding hazardous chemicals). By the end of November 30th, 2010, the net asset book value had reached RMB 66,327,200 with assessed value of RMB 127 million. Last year, the company earned operating income of RMB 66,508,300 with net profit of RMB 368,400. In the first 11months of the year, it earned operating income of RMB 127 million with net profit of RMB 5,681,100.
 
Huapont Pharm. announced that the company and Noposion became the shareholders of Jiangxi Heyi Chemical Co., Ltd. by means of capital increase and Jiangxi Heyi Chemical Co., Ltd. can make the most use of the support in R&D, production technology and foreign trade of new compounds rendered by Beijing Yingtai Jiahe Science and Technology Co., Ltd., an joint stock company of Huapont Pharm. and the strength and advanced management experience of pesticide formulations of Noposion to promote development. With the powerful technical support of Huapont Pharm., Jiangxi Heyi Chemical Co., Ltd. has a chance to complement with Huapont Pharm. and expedites the process of building up business. Meanwhile, Huapont Pharm. can make return on investment in acquiring Heyi’s shares and works with Heyi to open up original drug field to boost competitiveness, taking on great strategic significance.
 
STCN hereby states that the news is sourced from our cooperative media and STCN carry it for the purpose of passing on more information instead of conceding and proving news viewpoints. The article is for reference only rather than offering investment advice.
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