BEIJING, Jan. 22 (Xinhua) -- China Hainan Rubber Industry Group Co.,Ltd. (601118.SH) announced that it plans to buy 100 percent stake in Hainan Huahai Industrial Development Co. Ltd owned by its wholly-owned subsidiary.
Hainan Rubber also plans to change company name of Hainan Huahai to Hainan International Cultural Travel Investment Group Co., Ltd. with business scope also changed to cover medical care integrated big health industry development, domestic and international sports event development and operation as well as the development of cultural and sports tourism projects such as equestrian sports, reported Shanghai Securities Journal.
After above equity transfer, Hainan Rubber plans to inject 98.1 million yuan of capital in cash into the target company, whose registered capital would thus increase to 200 million yuan.
It is noted that Hainan Huahai’s current businesses cover areas such as ecological agriculture, leisure and sightseeing agriculture. The above equity transfer and business change are eyeing for the advantages and opportunities during Hainan’s free trade port construction as well as international tourism and consumption center construction. (Edited by Niu Huizhe, niuhuizhe@xinhua.org)
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