Yu Diamond plans to invest no more than 221 million yuan in Gongyi Rural Commercial Bank

Yu Diamond (300064) announced on Wednesday evening that the company intends to subscribe for a total of 79 million shares of Gongyi Rural Commercial Bank at a price of 2.8 yuan/share, with a total amount not exceeding 221 million yuan. As of the end of last year, Gongyi Rural Commercial Bank had a total asset of 11.92 billion yuan. In 2016, it achieved revenue of 580 million yuan and net profit of 117 million yuan. Transactions can drive the synergy between the company's industry and finance and expect a good return on investment. Yu Diamond disclosed the third quarterly report on the same day. The net profit for the first three quarters was 174 million yuan, a year-on-year increase of 52%.

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