State owned assets make another move! Henan Circular acquires 100% equity of Green Circular

On November 3rd, Green Beauty Co., Ltd. announced that its holding subsidiary Jiangxi Green Recycling Industry Co., Ltd. has officially signed a share acquisition agreement with Henan Recycling Technology Industry Group Co., Ltd. Henan Recycling Group will acquire 100% equity of Jiangxi Green Recycling Materials Co., Ltd., the core platform of Green Beauty's electronic waste recycling and plastic recycling business.

Henan Circular Group is a wholly-owned subsidiary of Henan Investment Group, with business covering areas such as electronic waste dismantling and treatment, scrapped car dismantling and disposal, and operation of circular economy industrial parks. Greenmei is a pioneer in the concept of "urban mining" in China, and this asset transfer is an important measure for its strategic focus on key metal resource recovery business.

Henan Circular Group is a wholly-owned subsidiary of Henan Investment Group, with business covering areas such as electronic waste dismantling and treatment, scrapped car dismantling and disposal, and operation of circular economy industrial parks. Greenmei is a pioneer in the concept of "urban mining" in China, and this asset transfer is an important measure for its strategic focus on key metal resource recovery business.

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Acquiring core content

According to the "Agreement on the Acquisition of 100% Equity of Jiangxi Green Recycling Materials Co., Ltd." signed by both parties, Green Recycling will transfer 100% equity of its wholly-owned subsidiary Jiangxi Green Recycling Materials Co., Ltd. (referred to as "Green Recycling Materials") engaged in electronic waste recycling and plastic recycling business to Henan Recycling Group, with an equity transfer amount of 280000000.00 yuan and a debt transfer amount of 682464773.63 yuan. After the completion of this equity transfer, Greenmei will no longer hold equity in Green Recycling Materials. Greenmei will actively develop its key metal resource recycling business and solve the key problems that have not been well resolved in the resource recycling industry.

As of December 31, 2024, Henan Circular Group has total assets of 5.484 billion yuan, total liabilities of 3.672 billion yuan, and net assets of 1.812 billion yuan; From January 1, 2024 to December 31, 2024, Henan Circular Group achieved a revenue of 3.359 billion yuan and a net profit of 173 million yuan.

The main financial data of Green Recycling Materials in the past year and period are as follows:

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Henan Province builds three 'national firsts' in circular economy

This is not the first time that Henan Circular Group has partnered with Greentown. In December 2024, Henan Recycling Group acquired three electronic waste disposal companies in northern China, namely Henan Green Recycling Electronic Waste Disposal Co., Ltd., Shanxi Hongyang Seagull Waste Electrical and Electronic Products Recycling and Treatment Co., Ltd., and Inner Mongolia Xinchuang Resource Recycling Co., Ltd.

This transaction further solidifies Henan Circular Group's leading position in the field of circular economy. After the completion of this transaction, Henan Circular Group will manage 15 electric waste projects, further enhancing its ability to dispose of electronic waste and firmly ranking first in the country; The annual production capacity of recycled plastics will climb to 300000 tons, ranking first in the industry.

Li Zhuoying, secretary of the Party Committee and chairman of Henan Recycling Group, revealed that in the future, the two sides will work together to create three "national first": the largest electronic waste disposal enterprise in China, the largest renewable plastic supplier in China and the largest Internet platform for recycling economy industry in China. (Source: Green Beauty)