Huafu Fashion (002042.SZ) subsidiary plans to acquire 49% equity of Tianfu Supply Chain minority shareholders for 50.4 million yuan.

Zhitong Finance APP news, Huafu Fashion (002042.SZ) announced that its wholly-owned subsidiary Xinjiang Huafu Cotton Industry Group Co., Ltd. (hereinafter referred to as "Huafu Cotton") intends to repurchase, for a consideration of RMB 50.4 million, the 49% equity interest held by Xinjiang Yinhua High-tech Co., Ltd. (hereinafter referred to as "Yinhua High-tech"), a minority shareholder of its controlled subsidiary Xinjiang Tianfu Cotton Supply Chain Co., Ltd. (hereinafter referred to as "Tianfu Supply Chain").