Good News! Shangfeng speeds up environmental protection

Released time:2015-08-10Pageviews:29259

Restructuring approved

On August 3, 2015, Zhejiang Shangfeng industrial Co.,Ltd (hereinafter referred to as: Shangfeng Gaoke stock code: 000967) received the China securities regulatory commission issued "on the approval right to Zhejiang Shangfeng Industrial Co.,Ltd. Shenzhen to strategy management consulting Co.,Ltd., such as matching funds raised through issuance of shares to buy assets and the approval of (regulatory permission [2015] No. 1858). After successfully obtained the approval from CSRC, it marks that Shangfeng started to restructure Yuxing environmental protection.

After the success of the restructuring, the company will acquire 100% equity of Yuxing technology development (shenzhen) Co., Ltd. in a combination of cash and issue shares. Yuxing technology will become a wholly-owned subsidiary of Shangfeng, which will provide new software new power in the field of environmental protection. Shangfei will become the only compant in China that has hardware and software and the provider that fully provide the overall environmental protection solution.

As a comprehensive service leading enterprise in the field of environmental monitoring, with the strategic goal of "monitoring, governance, harmony and development", Yuxing technology has gradually developed into a whole industry chain service provider in the field of environmental protection and water conservancy, which set up the brand image of "monitoring, management and operation". In the next three years, Yuxing Technology will contribute at least 120 million yuan, 156 million yuan and 210 million yuan to the parent company, which will greatly improve profitability of the company and benifit more to investors.

Rapid response reflects enterprise strength

From the successful reorganization of the approval issued generally to spend 1-2 months, and Shangfeng completes the work in less than three weeks, far faster than expected. Fast and efficient completion of the success will be issued to the work, reflects the company to reorganize the object of the good, fast and efficient execution and adequate preparation.

Ma Gang, President of Shangfeng Gaoke, said: the successful completion of the approval of the CSRC marks the end of the work of the high-tech restructuring of yuxing technology, and the environmental protection enterprise will enter the accelerated phase. The acquisition of Yuxing is only the first step towards a strategic transition to the environment. In the future, the company will continue to seek the opportunity of acquisition and reorganization, and excavate the high-quality environmental protection assets in the industry, extend the management and operation business, and build a comprehensive and large-scale environmental protection platform.