Top 10 News in 2019 - No. 7. Acquisition and merger raged like a storm

In 2019, the most eye-catching equity transaction was eight enterprises such as Great Star, Hangcha Group and Red Avenue New Materials made contribution to purchase the shares held by the shareholders of ZC Rubber Group, and acquired a total of 57.11% equity of ZC Rubber. At the end of September, Hangcha Group and Great Star published announcement at the same time to increase the capital to the shareholding platform ZC Haichao to acquire 46.95% equity of ZC Rubber and obtain the controlling interest of ZC Rubber; in October, the change of the shareholders and senior management personnel of ZC Rubber was completed. In addition, Doublestar Tire signed the framework agreement of reorganizing Shandong Hengyu Science and Technology and contributed 899 Million Yuan to acquire Hengyu Science and Technology; Shandong Huasheng acquired the creditor’s rights of 40 Million Yuan of two enterprises, Hengyu Science and Technology and Guofeng Rubber Plastic, at the beginning of the year; Shandong Habilead Rubber Co., LTD affiliated to Shandong Huasheng contributed 254 Million Yuan to complete the acquisition of Yongtai Group; Yongsheng Rubber contributed to purchase the old factory of Hengyu Rubber; Shandong Guopeng Rubber was auctioned as a whole with a turnover of 117 Million Yuan, etc. Along with the further acceleration of enterprise integration, the enterprise resources are expected to be allocated in a more reasonable way and the ecology of the whole industry will be developed toward a healthier mode.