NTAAC will spend ¥110 million to acquire Baoling Chemical

On the evening of May 22, NTAAC(SH603968) announced that the company and its related party Nantong Tianshun Investment planned to buy 73.53% shares of Jiangsu Baoling Chemical in cash. The transaction consideration was ￥109 million.

  Baoling is a fine chemical enterprise mainly engaged in the research and development, production and sales of chemical pesticides and their intermediates. The main products include Metalaxyl, Metalaxyl-M, Profenofos, 2,6-Dimethylaniline. Baoling Chemical owns the land (right of use) of 166,400 square meters located in the south of Zhangjiang Road and the east of Tongwang Road, Nantong Economic and Technological Development Zone.

After comprehensive consideration, in order to give full play to regional synergies, ease of management, industrial chain development planning and other factors, NTAAC signed a transfer agreement with six natural persons, Zhu Feng, Gu Shuji, Hu Weiping, Yu Jianping, Liu Xihan and Zhu Yixin, on May 20. The listed company and Tianshun Investment plan to buy 73.53% of the shares of Baoling Chemical held by the trading partner. The transaction consideration was ￥109 million.

From January to March of 2022 and 2023, Baoling Chemical achieved operating income of 329 million yuan and 54,277,800 yuan respectively, net profit of -3.194,800 yuan and -11.188,300 yuan, and net assets of the end of the report period were 127 million yuan and 115 million yuan.

NTAAC said that if the transaction goes smoothly, the company will strengthen the management of the target company, to help the target company consolidate the foundation of safety and environmental protection, improve the competitiveness of technology and quality. The company plans the future industrial chain and will fully rely on the integration of the industrial base and advantages of the company and the target company to build green development. It will further meet the needs of the company to expand business and production capacity, and also help the efficient integration of park resources.