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Shengxiang Biotechnology: Plans to establish a joint venture to acquire 100% equity of Huasi Wuwei
The Beijing News Shell Finance reported that on March 15, Shengxiang Bio announced that the company plans to jointly invest with its affiliate, Hunan Jinfurong Shengxiang Bio Equity Investment Partnership (Limited Partnership), to establish Hunan Shengwei Huasi Biotechnology Co., Ltd. (referred to as “Shengwei Huasi”), and to use it as the investment entity for the subsequent acquisition of 100% equity of Huasi Microbial Technology (Shenzhen) Co., Ltd. (referred to as “Huasi Micro”). The company will contribute a total of 65.438 million yuan from its own funds. After the transaction is completed, Shengwei Huasi and Huasi Micro will be included in the company’s consolidated financial statements.