G CHINA FIN plans to acquire FortuneYi Investment Limited for 1 HKD
G CHINA FIN's wholly-owned subsidiary Elite Sonic Limited plans to acquire all issued shares of FortuneYi Investment Limited for HKD 1, with the transaction expected to be completed on April 25, 2025. The target company indirectly owns Ningbo Zeying Flavor Co., Ltd. in China, which focuses on the production and sales of flavoring agents and tobacco flavors. The company has obtained ISO9001, ISO14001, and ISO45001 certifications, qualifying it to participate in tenders from tobacco manufacturers. The acquisition will help expand revenue sources and support the company's plan to resume share trading
According to the Zhitong Finance APP, G CHINA FIN (00431) announced that on April 25, 2025, its wholly-owned subsidiary Elite Sonic Limited intends to acquire all issued shares of FortuneYi Investment Limited from Ms. Ge Lijun for a total consideration of HKD 1.
It is reported that the target company indirectly owns a Chinese company (Ningbo Zeying Fragrance Co., Ltd.), whose main business is the production and sale of flavoring agents, tobacco flavoring, and auxiliary materials in China. According to its business license, the Chinese company is registered to manufacture and sell daily chemical products and is allowed to engage in the research and development, production, and sale of tobacco flavoring. The Chinese company has a factory in Ningbo covering approximately 1,000 square meters, equipped with production lines and facilities, with an estimated maximum annual production capacity of 2,500 tons for flavoring agents. The Chinese company possesses new facilities and advanced technology, capable of producing unique tobacco flavoring using ingredients such as food extracts, additives, and compounds according to customer product specifications, thus being prepared to expand production and sales.
The Chinese company commenced operations in mid-2024 and has been awarded ISO9001 quality management system certification, ISO14001 environmental management system certification, and ISO45001 occupational health and safety management system certification. Given that the Chinese company holds these certifications and technical skills, it qualifies to participate in the bidding process for Chinese cigarette manufacturers.
Since its establishment, the Chinese company has become a qualified supplier for tobacco manufacturers and is committed to becoming a qualified supplier for more tobacco manufacturers. Therefore, the company believes that the acquisition will not only expand the group's sources of income but also facilitate the company's plan to seek the resumption of share trading
