Heninges Automotive Seal Co., Ltd. completed the acquisition of Guizhou Hongyang Sealing Parts Co., Ltd. and 76.19% stake in Shanghai Hongyang Sealing Parts Co., Ltd. from Guizhou Guihang Automotive Components Co.,Ltd.
February 10, 2022
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Heninges (China) Automotive Seal Co., Ltd. agreed to acquire Guizhou Hongyang Sealing Parts Co., Ltd. and 76.19% stake in Shanghai Hongyang Sealing Parts Co., Ltd. from Guizhou Guihang Automotive Components Co.,Ltd (SHSE:600523) for approximately CNY 540 million on August 12, 2021. As of December 31, 2020, Guizhou Hongyang Sealing and Shanghai Hongyang Sealing Parts had total assets of CNY 440 million and net assets of CNY 516.8 million. In 2020, , Guizhou Hongyang Sealing and Shanghai Hongyang Sealing Parts generated revenue of CNY 458 million and net profit on CNY 363 million. As of November 15, 2021, shareholders of Guizhou Guihang Automotive Components approved the transaction.
Heninges (China) Automotive Seal Co., Ltd. completed the acquisition of Guizhou Hongyang Sealing Parts Co., Ltd. and 76.19% stake in Shanghai Hongyang Sealing Parts Co., Ltd. from Guizhou Guihang Automotive Components Co.,Ltd (SHSE:600523) on February 10, 2022.
GUIZHOU GUIHANG AUTOMOTIVE COMPONENTS CO., LTD is a China-based company, principally engaged in the development, manufacture and sales of automobile components. The Company's products mainly include electric wiper, automobile components, electrical switches, car locks, doorknob and heat exchangers, among others. The Company mainly provides its products to automobile manufacture enterprises in domestic market.
Heninges Automotive Seal Co., Ltd. completed the acquisition of Guizhou Hongyang Sealing Parts Co., Ltd. and 76.19% stake in Shanghai Hongyang Sealing Parts Co., Ltd. from Guizhou Guihang Automotive Components Co.,Ltd.