China Railway Materials Company Limited (SZSE:000927) agreed to acquire 49% stake in Sinopec Zhongtie Oil Products Sales Co., Ltd. from China Iron Materials Total Holding Co.,ltd. for CNY 50.2 million on October 31, 2023. As of December 31, 2022, Sinopec Zhongtie Oil Products Sales Co., Ltd. generated total assets of CNY 777.9 million, net assets of CNY 68.4, revenue of CNY 8.9 billion, operating profit of CNY 11.2 million and net profit of CNY 20.2 million.
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- China Railway Materials Company Limited agreed to acquire 49% stake in Sinopec Zhongtie Oil Products Sales Co., Ltd. from China Iron Materials Total Holding Co.,ltd. for CNY 50.2 million.