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On 29 September 2018, Sinochem International Corporation (Sinochem International) and Sichuan Fuhua Crop Protection Technology Investment Co., Ltd. (Sichuan Fuhua) signed a Share Transfer Agreement. Sichuan Fuhua became the transferee of 29.19% of shares in Nantong Jiangshan Agrochemical & Chemical Co., Ltd. (Nantong Jiangshan), with transfer price at USD3.0/share and sum at USD261.5 million. The payment was in cash.
Nantong Jiangshan Agrochemical & Chemical Co., Ltd. (Nantong Jiangshan) issued a notice on 2 August, 2017, which said that the board of directors deliberated and adopted “the proposal on the implementation of the phase ii technical reform project for amide herbicide”.
On 12 March, 2016, Nantong Jiangshan Agrochemical & Chemical Co., Ltd. (Nantong Jiangshan) released a notice on progress of material assets reorganization. In the notice, the company said it planned to acquire the majority of stakes in Jiangsu Changlong Chemicals Co., Ltd. (Changlong Chemicals) and Jiangsu Changlong Agrochemical Co., Ltd. (Changlong Agrochemical, a subsidiary of Changlong Chemicals) through share issuing, and the initial transaction scheme has been formulated, specific details of which are to be confirmed later.
According to the 2014 annual report of Nantong Jiangshan Agrochemical & Chemical Co., Ltd. (Nantong Jiangshan) published on 31 March, 2015, the company saw decline both in revenue and net profit attributed to its shareholders. In 2014, it has earned USD483.8 million and USD 32.8 million as revenue and net profit, down 5.9% and 33.2% against 2013 respectively.