Textile Monitoring

Changyuan acquires textile machinery maker Yin Science Changyuan Group (CYG Group) has announced acquisition of textile machinery manufacturer Shanghai Yin Science & Technology Company (Yin Group). CYG Group paid RMB 1.88 billion to 16 shareholders of Yin for buying 48 million shares, which account for 80 % of the total equity shares. In 2015, Yin Group's revenue stood at RMB 477 million while net profit was RMB 112 million. In the first quarter of this year, the Group's revenue totaled…