AgroPages-Noposion plans to increase investment in Tiantianquan with USD46.2 million-Agricultural news

By Think Real - On 14 Sept., 2017, Shenzhen Noposion Agrochemicals Co., Ltd. (Noposion) published a notice about its increased investment in its wholly-owned subsidiary, Shenzhen Tiantianquan Internet Ecology Co., Ltd. (Tiantianquan) Accordingly, Noposion plans to input USD46.2 million into Tiantianquan, after which the registered capital of the latter will be USD123.1 million and the former will own the 100% shares of the latter.

From Jan. to June 2017, Tiantianquan got a revenue of USD0.38 million and lost USD2.0 million (net profit).

In addition, Noposion announced to transfer the 100% shares of its wholly-owned subsidiary, Shenzhen Noposion Agricultural Means of Production Co., Ltd. (Noposion Agricultural Means of Production), to Tiantianquan, with the price of USD7.8 million. After the transaction, Noposion Agricultural Means of Production becomes the second-tier subsidiary of Noposion. As said in the announcement, the share transfer is targeted at the integration of company resources to improve the resource use efficiency, maximize the synergy effect of subsidiaries, reduce operation costs and upgrade the company’s overall operation efficiency. The transaction will not exert major influence on the company’s normal operation, future financial status and operation achievements immediately.