Moon Environment Technology Co., Ltd. cancelled the acquisition to acquire remaining 29.89% stake in Yantai Moon Casting Co., Ltd. from Yantai Moon Group Co., Ltd.
October 10, 2018
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Moon Environment Technology Co., Ltd. (SZSE:000811) signed the equity transfer agreement to acquire remaining 29.89% stake in Yantai Moon Casting Co., Ltd. from Yantai Moon Group Co., Ltd. for CNY 35 million on October 11, 2017. In related transaction, Moon Environment Technology Co., Ltd. signed the equity transfer agreement to acquire 60% stake in Yantai Moon Pressure Vessel Co., Ltd. from Yantai Moon Group Co., Ltd. for CNY 23.7 million. During the year ended December 31, 2016, Yantai Moon Casting Co., Ltd had total assets of CNY 140.7 million, net asset of CNY 79.18 million, revenue of CNY 152.41 million, and net profit of CNY 10.15 million. On October 11, 2017, Moon Environment Technology Co., Ltd. held the directorate and approved this transaction.
Moon Environment Technology Co., Ltd. (SZSE:000811) cancelled the acquisition to acquire remaining 29.89% stake in Yantai Moon Casting Co., Ltd. from Yantai Moon Group Co., Ltd. on October 11, 2018.
Moon Environment Technology Co., Ltd., formerly YANTAI MOON CO., LTD., is a China-based company principally engaged in the provision of system solutions for the field of temperature control. The Company's main business includes the manufacturing and sales of cryogenic refrigeration equipment, central air conditioning equipment, environmental heating equipment, as well as the provision of application systems integration and engineering services. Its products and services are widely used in food cold chain, logistics, petrochemical, pharmaceutical, energy, rail transportation and other industries. The Company's products are distributed to domestic and overseas markets.
Moon Environment Technology Co., Ltd. cancelled the acquisition to acquire remaining 29.89% stake in Yantai Moon Casting Co., Ltd. from Yantai Moon Group Co., Ltd.
MOON ENVIRONMENT TECHNOLOGY CO.,LTD. 
