Shanghai Saiyi Electromechanical Co., Ltd. acquired 55% stake in Shanghai Cedu Automation Technology Co., Ltd. from SanFeng Intelligent Equipment Group Co., Ltd. for CNY 0.
January 07, 2021
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Shanghai Saiyi Electromechanical Co., Ltd. signed an Equity Transfer Agreement to acquire 55% stake in Shanghai Cedu Automation Technology Co., Ltd. from SanFeng Intelligent Equipment Group Co., Ltd. (SZSE:300276) for CNY 0 on December 17, 2020. Shanghai Cedu Automation Technology reported total revenues of CNY 24 million, total assets of CNY 63.1 million, net loss of CNY 0.7 million and net assets of CNY 9.3 million for the year ending December 31, 2019. This equity transfer will not have a significant impact on the 2020 annual performance.
Shanghai Saiyi Electromechanical Co., Ltd. completed the acquisition of 55% stake in Shanghai Cedu Automation Technology Co., Ltd. from SanFeng Intelligent Equipment Group Co., Ltd. (SZSE:300276) on January 8, 2021.
SanFeng Intelligent Equipment Group Co., Ltd., formerly Hubei SanFeng Intelligent Conveying Equipment Co., Ltd is a China-based company principally engaged in the research and development, manufacture, installation and debugging of intelligent conveying complete equipment, as well as the provision of technical services. Its main products include automatic monorail systems, friction transport systems, plate conveyers, pallet conveyors, elevators, intelligent cars, rotational systems, interior vehicle gas inhaust and exhaust systems, as well as other devices. The Company also manufactures high and low voltage and electronic control equipment, as well as related parts. The Company mainly operates businesses in domestic market.
SANFENG INTELLIGENT EQUIPMENT GROUP CO., LTD. 
