Yanbian Development Co., Ltd. acquired an additional 35% stake in Panzhihua Anrui Construction Development Co., Ltd. from Chengdu Road & Bridge Engineering CO.,LTD for CNY 13.85 million.
June 25, 2022
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Yanbian Development (Group) Co., Ltd. acquired an additional 35% stake in Panzhihua Anrui Construction Development Co., Ltd. from Chengdu Road & Bridge Engineering CO.,LTD (SZSE:002628) for CNY 13.85 million on June 25, 2022. The consideration shall be payable on or before June 30, 2022. Post completion, Chengdu Road & Bridge Engineering CO.,LTD hold no stake while Yanbian Development (Group) Co., Ltd. holds 75% stake of Panzhihua Anrui Construction Development Co., Ltd. As of May 31, 2022, Panzhihua Anrui Construction Development Co., Ltd has reported total assets of CNY 12.52 million and net assets of CNY 11.68 million. The Board of Directors and Supervisory Board of Chengdu Road & Bridge Engineering CO.,LTD has approved the transaction.
Yanbian Development (Group) Co., Ltd. completed the acquisition of an additional 35% stake in Panzhihua Anrui Construction Development Co., Ltd. from Chengdu Road & Bridge Engineering CO.,LTD (SZSE:002628) on June 25, 2022.
Chengdu Road & Bridge Engineering CO.,LTD. is mainly engaged in the construction of roads, bridges and tunnels, the upgrading and daily maintenance of road and municipal projects, the manufacture and sale of traffic safety facilities, construction machinery leasing business, as well as transportation engineering testing related business. The Company's main products include highways, fast track municipalities, municipal infrastructure, various types of bridges and tunnels and traffic safety facilities. The Company operates its businesses mainly in Sichuan Province, China.
Yanbian Development Co., Ltd. acquired an additional 35% stake in Panzhihua Anrui Construction Development Co., Ltd. from Chengdu Road & Bridge Engineering CO.,LTD for CNY 13.85 million.
CHENGDU ROAD & BRIDGE ENGINEERING CO.,LTD 
