Nanning Sugar Industrial Co., Ltd (000911.SZ) announced Thursday that it would sign a contract to purchase a 75 percent equity of Yuanfeng Sugar Industrial Co., Ltd from Guangxi Fufang Investment Co., Ltd.
The transaction will cost Nanning Sugar 60 million yuan. And Guangxi Fufang promised the net profits of Yuanfeng Sugar in 2016, 2017 and 2018 would reach no less than 100,000 yuan, 500,000 yuan and 1 million yuan respectively.
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