Zibo Qinying Investment Partnership Enterprise (Limited Partnership) completed the acquisition of 5% stake in Jiangsu Huahong Technology Co., Ltd. from Jiangsu Huahong Industrial Group Co., Ltd.
March 24, 2022
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Zibo Qinying Investment Partnership Enterprise (Limited Partnership) signed share transfer agreement to acquire 5% stake in Jiangsu Huahong Technology Co., Ltd. (SZSE:002645) from Jiangsu Huahong Industrial Group Co., Ltd. for approximately CNY490 million on March 15, 2022. As per the terms, Zibo Qinying will acquire 29.1 million shared at CNY 16.875 per share. CNY 73,669,715.16 should be paid in cash within 5 working days after completing the transfer procedures and within 3 working days after paying the above-mentioned part of the share transfer price, the remaining share transfer price of CNY 417,461,719.22 should be paid. Post acquisition, Jiangsu Huahong Industrial Group Co., Ltd. will hold 34.51% stake.
Zibo Qinying Investment Partnership Enterprise (Limited Partnership) completed the acquisition of 5% stake in Jiangsu Huahong Technology Co., Ltd. (SZSE:002645) from Jiangsu Huahong Industrial Group Co., Ltd. on March 25, 2022.
Jiangsu Huahong Technology Co., Ltd. is a China-based company principally engaged in the research, development, manufacture and sales of renewable resources equipment. The Company operates its businesses through two segments. The Renewable Resources segment mainly provides metal packaging equipment, metal shearing equipment, scrap crushing production lines and other metal renewable resources processing equipment, while the Renewable Resources segment is also engaged in the processing and recycling of renewable resources. The Elevator Components segment mainly provides elevator signal systems, door systems and other elevator components. The Company distributes its products in the domestic market and to overseas markets.
JIANGSU HUAHONG TECHNOLOGY CO., LTD. 