Dongpeng Holdings (03386.HK) announced that the company has entered into a cooperation agreement for the acquisition of 62% equity in Guangzhou Yi Nai Bathroom Products at a price of 15 million yuan. Guangzhou Yi Nai is engaged in the design, customization and sale of high-end bathroom products. It is believed that the cooperation agreement will help the company enter the mid-to-high-end bathroom products market.
Mr. He Xinming, Chairman of Dongpeng Holdings, said, "I am very pleased to have reached a cooperation with Guangzhou Nine. The brand awareness of domestic consumers is constantly increasing, and products with innovative design and energy-saving and environmental protection concepts are increasingly receiving market and consumer attention. Yinai has strong advantages in this area, including its excellent product design capabilities, stylish brand positioning and rich designer resources, while Dongpeng Holdings has strong production capabilities, mature sales network and modern leading industry The logistics system, our five major bases and 24 regional warehouses strategically cover the whole country, plus the leading position of the 'Dongpeng' brand in the Chinese national installation industry, the cooperation between the two parties will complement each other's advantages, realize the optimal allocation of resources, and play In the future, the two parties will strive to continue to expand the mid- to high-end market, consolidate the leading position of the 'Dongpeng' brand, become a shining star in the sanitary ware industry, and promote the long-term sustainable development of the business.
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DONGPENG HOLDINGS COMPANY LIMITED
Dongpeng Holdings Co., Ltd.
(A limited liability company incorporated in the Cayman Islands)
(Stock code: 3386)
Voluntary announcement:
Signed a cooperation agreement with INNOCI
The Board of Directors is pleased to announce that on July 25, 2014, Foshan Dongpeng Sanitary Ware Co., Ltd. and Innoci entered into a cooperation agreement on the proposed acquisition of a 62% equity interest in Guangzhou Yi Nai.
This is Dongpeng Holdings Co., Ltd., together with its subsidiaries, is called a voluntary announcement made by the Group.
The company's board of directors is pleased to announce that on July 25, 2014, the indirect wholly-owned subsidiary of the company, Foshan Dongpeng Sanitary Ware Co., Ltd. and Innoci International LLC, acquired 62% of Guangzhou Yi Nai Sanitary Ware Co. Equity enters into cooperation agreements.
Pursuant to the cooperation agreement, Foshan Dongpeng Sanitary Ware proposed to acquire a 62% equity interest in Guangzhou Yi Nai with a capital contribution of RMB 15,000,000.
Guangzhou Yi Nai is a company incorporated in the People's Republic of China, engaged in the design, ordering and sales of high-end bathroom products, and is a wholly-owned subsidiary of Innoci (a company incorporated in Dallas, USA).
The Group believes that entering into the cooperation agreement will help the Group to explore the market of modern fashion and high-end design; and will help the Group benefit from the design capabilities and brand positioning of Guangzhou Yi Nai's experienced elite product design team. Cooperating with the company's production capacity, distribution pipeline and logistics advantages, the cooperation will enable the Group to further effectively expand its market share in the mid-to-high-end sanitary ware market.
By order of the board of directors Dongxin Holdings Co., Ltd. chairman He Xinming Hong Kong, July 27, 2014. As of the date of this announcement, the executive directors He Xinming, Chen Kunlie and Bao Jianyong; Sun Qian and Sun Limei, and the independent non-executive directors are Yin Hong, Xie Huiyun and Wu Haibing.
Editor in charge: GO Jiaju CC
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