Nanning Baling Technology Co., Ltd. cancelled the acquisition of stake ranging from 20% to 30% in Suzhou Youlion Battery Co., Ltd. from Shanghai Kailong Investment Management Co., Ltd.
January 18, 2019
Share
Nanning Baling Technology Co., Ltd. (SZSE:002592) signed an equity transfer letter of intent to acquire stake ranging from 20% to 30% in Suzhou Youlion Battery Co., Ltd. from Shanghai Kailong Investment Management Co., Ltd. on May 16, 2018. Transactional price will be defined at the moment of signing of the formal agreement. Suzhou Youlion Battery reported total assets of CNY 536.84 million, net assets of CNY 262.35 million, revenue of CNY 301.7 million and net profit of CNY 31.43 million as of December 31, 2017. The transaction was approved by the 22nd meeting of the fifth Directorate of Nanning Baling Technology on May 16, 2018.
Nanning Baling Technology Co., Ltd. (SZSE:002592) cancelled the acquisition of stake ranging from 20% to 30% in Suzhou Youlion Battery Co., Ltd. from Shanghai Kailong Investment Management Co., Ltd. on January 18, 2019.
Nanning Baling Technology Co Ltd is a China-based company mainly engaged in the research and development, production and sales of automotive thermal management system related products and body structure products. The Company's products include high and low radiators, intercoolers, oil coolers and other heat exchangers, condensers and other automotive air-conditioning series, as well as car bumpers. The Company is also engaged in cultural performance business, cell technology and health management service business, plastic and aluminum sales and real estate leasing business. The Company mainly conducts its businesses in domestic market.
Nanning Baling Technology Co., Ltd. cancelled the acquisition of stake ranging from 20% to 30% in Suzhou Youlion Battery Co., Ltd. from Shanghai Kailong Investment Management Co., Ltd.
NANNING BALING TECHNOLOGY CO., LTD. 
