Zhuhai Yucheng Investment Center agreed to acquire an 11% stake in Yundu New Energy Automobile Co., Ltd. from Jiangxi Haiyuan Composites Technology Co.,Ltd. for CNY 22 million.
April 13, 2022
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Zhuhai Yucheng Investment Center agreed to acquire an 11% stake in Yundu New Energy Automobile Co., Ltd. from Jiangxi Haiyuan Composites Technology Co.,Ltd. (SZSE:002529) for CNY 22 million on April 12, 2022. Zhuhai Yucheng Investment Center will pay an initial deposit of CNY 5 million and the remaining CNY 17 million will be settled at completion of the transaction. As on March 31, 2022, Yundu New Energy Automobile had total assets of approximately CNY 1.65 billion and a negative net worth of CNY 30.79 million. The transaction is subject to approval by shareholders of Jiangxi Haiyuan Composites Technology. The transaction has been approved by the board of Jiangxi Haiyuan Composites Technology. As on April 29, 2022, the transaction has been approved by the shareholders of Jiangxi Haiyuan Composites.
Jiangxi Haiyuan Composites Technology Co Ltd, formerly s Fujian Haiyuan Composite Technology Co Ltd, is a China-based company mainly engaged in the research and development (R&D), production and sales of composite lightweight products and new intelligent mechanical equipment. The Company's composite products include automobile bodies and parts and composite building templates. The Company's mechanical equipment products mainly include wall material forming equipment, refractory forming equipment, composite material forming equipment and building ceramic automatic hydraulic press. The company is also engaged in the R&D, design, production and sales of photovoltaic modules. The Company distributes its products in domestic market and to overseas markets.
Zhuhai Yucheng Investment Center agreed to acquire an 11% stake in Yundu New Energy Automobile Co., Ltd. from Jiangxi Haiyuan Composites Technology Co.,Ltd. for CNY 22 million.