Xu Haifei completed the acquisition of 2.7% stake in Beijing Hezong Science & Technology Co., Ltd. from Liu Zegang and Wei Qiang.
July 30, 2021
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Xu Haifei entered into an agreement to acquire 2.7% stake in Beijing Hezong Science & Technology Co., Ltd. (SZSE:300477) from Liu Zegang and Wei Qiang for approximately CNY 190 million on July 16, 2021. The shares will be acquired for CNY 6.6 each. The buyer shall pay the transfer price of CNY 5 million to sellers within 3 working days from the effective date of this agreement. Liu Zegang will transfer to Xu Haifei 18,719,560 unrestricted shares of Beijing Hezong Science & Technology, accounting for 1.73% stake while Wei Qiang will transfer his holding of 10,135,702 unrestricted shares of Beijing Hezong Science & Technology to Xu Haifei, accounting for 0.94% stake. As a result of transaction, Liu Zegang’s shareholding in Beijing Hezong Science & Technology will reduce from 13.47% to 11.74% stake while Wei Qiang’s shareholding in Beijing Hezong Science & Technology will reduce from 6.82% to 5.89%. Xu Haifei’s stake in Beijing Hezong Science & Technology increased from 0.05% to 2.71% stake.
Xu Haifei completed the acquisition of 2.7% stake in Beijing Hezong Science & Technology Co., Ltd. (SZSE:300477) from Liu Zegang and Wei Qiang on July 30, 2021.
Hezong Sience&Technology Co Ltd, formerly Beijing Hezong Science & Technology Co Ltd, is a China-based company principally engaged in the research and development, manufacture and sales of outdoor medium and high power distribution and control equipment. The Companyâs products include ring main units, box-type transformer substations, pole top switches, transformers, cable accessories, other switches and others. The Company is also engaged in the research and development, manufacture and sales of precursors for lithium battery cathode materials through its subsidiary, including cobalt trioxide, cobalt oxyhydroxide and iron phosphate. The Company also provides electrical engineering design services. The Company distributes its products mainly in domestic market.