As the price of lithium carbonate stays low, Keda Industrial Group is vigorously expanding its overseas building materials business.
As the price of lithium carbonate stays low, Keda Industrial Group is vigorously expanding its overseas building materials business.
On the evening of November 12, Keda Industrial Group (600499.SH) declared that its subsidiary intends to sign a "Trademark Transfer Framework Agreement" with Senda Group to purchase 182 trademarks related to the building materials business for 200 million yuan.
It is worth noting that Shen Yanchang, a director of Keda Industrial Group, is the controlling shareholder and actual controller of Senda Group. Consequently, this trademark transfer represents a related party transaction.
According to the accounting policies for listed companies, Keda will categorize the acquired trademarks worth 200 million yuan as intangible assets and amortize them over a period of ten years.
In the first three quarters of 2024, Keda attained an operating revenue of 8.564 billion yuan, showing an increase of 21.85%. However, its net profit declined by 65.19% to 703 million yuan.
Regarding this latest deal, Keda asserted that the acquisition of these trademarks is aimed at integrating brand and channel resources in its overseas building materials business and strengthening the independence and core competitiveness of this sector.