Shi Wanfu completed the acquisition of 35% stake in Luoyang Wanfu Microfinance Co., Ltd. from Henan Tong-Da Cable Co., Ltd..
May 24, 2024
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Shi Wanfu agreed to acquire 35% stake in Luoyang Wanfu Microfinance Co., Ltd. from Henan Tong-Da Cable Co., Ltd. (SZSE:002560) on December 8, 2023. This has been approved in the 20th Meeting of the Company?s 5th Directorate held on December 8, 2023, and is subject to the approvals of the Company?s shareholders and the competent government departments. As of January 8, 2024, Henan Tong-Da Cable received CNY 5 million. On April 26, 2024, Henan Tong-Da Cable Co., Ltd. (SZSE:002560) received the second installment of equity transfer payment of CNY 13.2 million paid by Shi Wanfu.
Shi Wanfu completed the acquisition of 35% stake in Luoyang Wanfu Microfinance Co., Ltd. from Henan Tong-Da Cable Co., Ltd. (SZSE:002560) on May 24, 2024.
Henan Tong-Da Cable Co., Ltd. is mainly engaged in wires and cables production and sales business and aviation parts processing business. The Company's main products include Aluminum Conductors Steel-Reinforced (ACSR) cables, aluminum clad steel strands, aluminum alloy strands, contact wires and power cables for electrical circuits, sheet metal forming dies, overhead dielectrically insulated composite cables, as well as titanium alloy body aluminum frames, beams, ribs, joints and other computerized numerical control machining parts. The Company distributes its products in domestic market and to overseas markets.