Hubei Chutian Smart Communication Co.,Ltd. and Hubei Provincial Communications Investment Group Co., Ltd acquired Hubei Daguangbei Expressway Co., Ltd. from China Gezhouba Group Highway Operation Co., Ltd. for CNY 3.5 billion.
December 31, 2019
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Hubei Chutian Smart Communication Co.,Ltd. (SHSE:600035) and Hubei Provincial Communications Investment Group Co., Ltd acquired Hubei Daguangbei Expressway Co., Ltd. from China Gezhouba Group Highway Operation Co., Ltd. for CNY 3.5 billion on December 31, 2019. Hubei Chutian Smart Communication Co.,Ltd. is acquiring a 75% stake in Hubei Daguangbei Expressway Co., Ltd. for CNY 2.6 billion and Hubei Transportation Investment Construction Group Co., Ltd. is acquiring a 25% stake in Hubei Daguangbei Expressway Co., Ltd. for CNY 864.3 million. As of December 31, 2018, Hubei Daguangbei Expressway Co., Ltd. has total assets of CNY 4.7 billion, owners equity of CNY 1.1 billion, operating revenue of CNY 451.5 million and net profit of CNY 7.1 million. The transaction has been reviewed and approved by the sixteenth meeting of China Gezhouba Group Company Limited (SHSE : 600068) parent of China Gezhouba Group Highway Operation Co., Ltd. seventh Board of Directors.
Hubei Chutian Smart Communication Co.,Ltd. (SHSE:600035) and Hubei Provincial Communications Investment Group Co., Ltd completed the acquisition of Hubei Daguangbei Expressway Co., Ltd. from China Gezhouba Group Highway Operation Co., Ltd. on December 31, 2019.
Hubei Chutian Smart Communication Co Ltd is a China-based company mainly engaged in road and bridge operations and intelligent technology. The Company operates its businesses through two segments. The Road and Bridge Operations segment is mainly engaged in the investment, construction and operation management of toll roads. The Intelligent Technology segment is mainly engaged in the operation of intelligent manufacturing and intelligent transportation businesses. Intelligent manufacturing is mainly engaged in the research and development of intelligent terminal products and software, hardware manufacturing and product sales. The intelligent transportation business mainly provides services such as overall research and development, manufacturing, integration, operation and maintenance of transportation-related software and hardware products. The Company mainly operates its businesses in the domestic market.
Hubei Chutian Smart Communication Co.,Ltd. and Hubei Provincial Communications Investment Group Co., Ltd acquired Hubei Daguangbei Expressway Co., Ltd. from China Gezhouba Group Highway Operation Co., Ltd. for CNY 3.5 billion.
HUBEI CHUTIAN SMART COMMUNICATION CO.,LTD. 