National Agricultural Proposes Acquisition of 45% Stake in Guangdong New Co-Op Skyrise Investment
22 May 2015 - 7:16PM
Business Wire
Integrating and Upgrading Internet Finance
Industry Chain; Strengthening Urbanization-Related Business
National Agricultural Holdings Limited (“National
Agricultural”, or together with its subsidiaries, the “Group”;
stock code: 1236.HK) (SEHK:1236) is pleased to announce that the
Group has signed a cooperation framework agreement with Guangdong
Province Agricultural Means of Production Company Corporation
(“Guangdong-agri Group”), in relation to the contemplated capital
injection by the Group in Guangdong New Co-Op Skyrise Investment
Co, Ltd. (廣東新供銷天成投資有限公司) (“Guangdong New Co-Op”), and the
acquisition of 45% of the enlarged equity capital of Guangdong New
Co-Op. The acquisition gives further impetus to the deepening of
reform of enterprises under Guangdong Supply and Marketing
Cooperative (“Guangdong SMC”), further improves the equity
structure, promotes managerial and systematic innovation, enhances
the business development capabilities, and raises economic
efficiency. On the other hand, the acquisition illustrates that the
business coverage of National Agricultural has extended from
northern China to southern China, and is actively expanding across
China. The inclusion of Guangdong New Co-Op further optimizes the
internet finance industry chain of National Agricultural, while the
high-quality assets within the national supply and marketing
cooperatives system are also further integrated and optimized,
bringing stronger synergy to all parties.
Guangdong New Co-Op is an entity owned by Guangdong SMC, and is
a member entity of the All China Federation of Supply and Marketing
Cooperatives. It is principally engaged in asset management,
urbanization planning, operating and managing, property management
and trading of agricultural-related products within Guangdong SMC.
Furthermore, the Group is keenly consolidating and exploring land
resources as well as developing urban commercial and trading
complexes. Meanwhile, the Group is contemplating the integration of
tea leaves business resources with an aim to engage in the
operations of the entire industry chain of tea leaves, and to
establish tea leaves commodity exchange to commence bulk trading of
tea leaves commodities. Leveraging the cooperation and
stakeholding, National Agricultural is progressing towards the goal
of comprehensively serving the agricultural sector in terms of
“Trading in Agricultural Means of Production” and “Urbanization
Planning, Operating and Managing”, and is driving its internet
finance industry strategy. The movement also marks the kick-off and
integration of the tea leaves trading on the trading platform for
agricultural products under National Agricultural.
Mr. Chen Li-jun, Chairman of National Agricultural, said,
“National Agricultural is actively seizing opportunities in the
development of the ‘agriculture, rural areas and farmers’ sector
and propel mergers and acquisitions of high-quality agri-related
enterprises step by step, to drive the integration and upgrade of
the industry chain of agri-related transactions. The acquisition of
Guangdong New Co-Op, a member of the supply and marketing
cooperatives system, will strengthen two of the Group’s major
businesses - trading in agricultural means of production and
urbanization planning, operating and managing, which will further
reinforce the Group’s position as the leading enterprise in the
‘agriculture, rural areas and farmers’ sector.”
About National Agricultural Holdings
Limited
National Agricultural Holdings Limited (SEHK code: 1236.HK) is a
rural market-based company that integrates financial services,
agri-related trade, information, industry and science research. Its
principal businesses are rural financial services, trading in
agricultural means of production, planning, operation and
management on urbanization development and high-tech information
technology, etc. These directives are fully implemented to
accommodate China's strategic goal of vigorously developing
“Agriculture, Rural Areas and Farmer” sector and a new model of
urbanization. Hebei Supply and Marketing Cooperative made an equity
investment in National Agricultural Holdings through its subsidiary
Parko (HongKong) Ltd. in November 2013.
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