China General Technology Holding Co., Ltd. agreed to acquire Zhongqing Solar Battery Co., Ltd. from China Automotive Engineering Research Institute Co., Ltd. for CNY 48 million.
November 29, 2018
Share
China General Technology (Group) Holding Co., Ltd. agreed to acquire Zhongqing Solar Battery Co., Ltd. from China Automotive Engineering Research Institute Co., Ltd. (SHSE:601965) for CNY 48 million on November 29, 2018. The agreement has not been signed yet. Zhongqing Solar Battery Co., Ltd. reported total assets of CNY 83.4 million as at December 31, 2017. Zhongqing Solar Battery Co., Ltd. reported operating income of CNY 0.19 million and net loss after deducting non-operating profit and loss of CNY 61.71 million in 2017. The transaction is not subject to approval of shareholders of China Automotive Engineering Research Institute Co., Ltd. The Board of Directors of China Automotive Engineering Research Institute Co., Ltd. approved the transaction.
CHINA AUTOMOTIVE ENGINEERING RESEARCH INSTITUTE CO.,LTD is a China-based company primarily engaged in the automobile technical support and industrial manufacturing. Automobile Technical Support segment includes technology research and development, technical consulting, technology services, and vehicle test and evaluation. Industrial Manufacturing segment is involved in the design, development, manufacture and sale of special vehicles, gas-driven vehicle systems, rail transit key components, vehicle detection equipment, electric vehicle hybrid power systems and key components and aftertreatment systems, among other products.
China General Technology Holding Co., Ltd. agreed to acquire Zhongqing Solar Battery Co., Ltd. from China Automotive Engineering Research Institute Co., Ltd. for CNY 48 million.
CHINA AUTOMOTIVE ENGINEERING RESEARCH INSTITUTE CO., LTD. 
