Changzhou Gaoxin Yunshu Investment Co., Ltd. completed the acquisition of 75% stake in Shenzhen iTeaQ Network Power Technology Co., Ltd. from Black Peony Co., Ltd..
December 26, 2022
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Changzhou Gaoxin Yunshu Investment Co., Ltd. agreed to acquire a 75% stake in Shenzhen iTeaQ Network Power Technology Co., Ltd. from Black Peony (Group) Co., Ltd. (SHSE:600510) for CNY 1 billion on November 21, 2022. As on December 7, 2022, Black Peony's shareholders have approved the transaction.
Changzhou Gaoxin Yunshu Investment Co., Ltd. completed the acquisition of 75% stake in Shenzhen iTeaQ Network Power Technology Co., Ltd. from Black Peony (Group) Co., Ltd. (SHSE:600510) on December 27, 2022. Shenzhen iTeaQ Network Power Technology has completed the industrial and commercial change registration procedures related to this transaction on December 27, 2022.
Black Peony Group Co Ltd is a China-based company mainly engaged in urban construction business. The Company operates three segments. Urban Construction segment is engaged in new urbanization construction business, including infrastructure construction, affordable housing construction, real estate development, development and operation of characteristic industrial science and technology parks, transformation and operation of cultural and creative parks and other real estate businesses. Textile segment is engaged in fabric production, garment processing and brand operation. Others segment include pre-land development projects, vast hectares of fertile land engineering projects and digital energy infrastructure business. The Company mainly conducts businesses within the domestic market.
Changzhou Gaoxin Yunshu Investment Co., Ltd. completed the acquisition of 75% stake in Shenzhen iTeaQ Network Power Technology Co., Ltd. from Black Peony Co., Ltd..