Shi Huashan agreed to acquire an additional 51% stake in Shenzhen Faraday ePower Drive Co., Ltd. from Hanyu Group Joint-Stock Co., Ltd. for CNY 15.8 million.
December 10, 2020
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Shi Huashan agreed to acquire an additional 51% stake in Shenzhen Faraday ePower Drive Co., Ltd. from Hanyu Group Joint-Stock Co., Ltd. (SZSE:300403) for CNY 15.8 million on December 9, 2020. Within 10 days after the signing of the contract, the buyer will pay the seller the transfer price of CNY 15.79 million. Shi Huashan signed the share transfer agreement to acquire an additional 51% stake in Shenzhen Faraday ePower Drive Co., Ltd. from Hanyu Group Joint-Stock Co., Ltd. (SZSE:300403) on January 11, 2021. As at September 30 2020, Shenzhen Faraday ePower Drive had total assets of CNY 6.7 million and net assets of CNY 5.3 million. On December 9, 2020, the 4th session of the company’s 4th Directorate approved the transaction.
Hanyu Group Joint Stock Co Ltd is a China-based company principally engaged in the research, development, production and sales of high-efficiency and energy-saving household appliance drainage pumps. The Company operates three business sectors. Appliance Accessories' main products comprise energy-saving household appliance drain pumps, including standard drain pumps, condensate pumps and washing circulation pumps. Terminal Appliancesâ main products are the Deere Spa Toilet and the Minox Light Spa Toilet. New Energy Vehicle Components mainly include electronic water pumps, charging piles and micro-charging series products. The company is also engaged in the research, development, manufacturing and sale of specialty engineering plastics poly aryl ether sulfone and upstream raw materials. The Company conducts its businesses in the domestic market and overseas markets.
Shi Huashan agreed to acquire an additional 51% stake in Shenzhen Faraday ePower Drive Co., Ltd. from Hanyu Group Joint-Stock Co., Ltd. for CNY 15.8 million.
HANYU GROUP JOINT-STOCK CO., LTD. 
