Shandong Longji Machinery Co., Ltd. cancelled the acquisition of remaining 51% stake in SHW Longji Brake Discs Co., Ltd. from SHW Automotive GmbH.
September 27, 2018
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Shandong Longji Machinery Co., Ltd. (SZSE:002363) share transfer agreement to acquire remaining 51% stake in SHW Longji Brake Discs (Longkou) Co., Ltd. from SHW Automotive GmbH on September 28, 2017. For the year ended December 31, 2016, SHW Longji Brake Discs (Longkou) Co., Ltd. reported total assets of CNY 201.8 million, owner’s equity of CNY 177.9 million, revenues of CNY 143.1 million, operating profit of CNY 8.03 million and net profit of CNY 6.01 million. The Board of Directors of Shandong Longji Machinery Co., Ltd. approved the transaction.
Shandong Longji Machinery Co., Ltd. (SZSE:002363) cancelled the acquisition of remaining 51% stake in SHW Longji Brake Discs (Longkou) Co., Ltd. from SHW Automotive GmbH on September 28, 2018.
Shandong Longji Machinery Co., Ltd. is a China-based company principally engaged in the manufacture and sales of automobile brake parts and components. The Companyâs main products include automobile braking disks, automobile brakes, including general brakes and truck brakes, brake blocks, wheel hubs and others. Through its subsidiaries, the Company is also engaged in the manufacture of automobile brake calipers and related products.