Jiangsu Leili Motor Co., Ltd agreed to acquire 60% stake in Changzhou Huiping Investment Group Co., Ltd. and 19.7% stake in Changzhou Xuexiang Telecommunication Component Co., Ltd from Wang Jianping and Wang Ziyu for approximately CNY 550 million.
July 04, 2021
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Jiangsu Leili Motor Co., Ltd (SZSE:300660) agreed to acquire 60% stake in Changzhou Huiping Investment Group Co., Ltd. and 19.7% stake in Changzhou Xuexiang Telecommunication Component Co., Ltd from Wang Jianping and Wang Ziyu for approximately CNY 550 million on July 5, 2021. Under the terms, Jiangsu Leili Motor will issue 26.7 million shares. As of March 31, 2021, Changzhou Huiping and Changzhou Xuexiang had total assets of CNY 1.9 billion and net assets of CNY 685.5 million.
Jiangsu Leili Motor Co., Ltd is a China-based company principally engaged in the research, development, manufacture and sales of household electrical appliance micro-motors and intelligent components, as well as automobile motors and spare parts. The Companyâs main products include air conditioning motors and components, washing machine motors and components, refrigerator motors and components, dishwasher circulating pumps, treadmill motors, as well as automobile accessories and components. The Company distributes its products in domestic market and to overseas markets
Jiangsu Leili Motor Co., Ltd agreed to acquire 60% stake in Changzhou Huiping Investment Group Co., Ltd. and 19.7% stake in Changzhou Xuexiang Telecommunication Component Co., Ltd from Wang Jianping and Wang Ziyu for approximately CNY 550 million.
JIANGSU LEILI MOTOR CO., LTD 
