Shaanxi Aerospace Power Hi-Tech Co., Ltd. cancelled the acquisition of remaining 34.8% stake in Xi'an Aerospace Pump Co., Ltd. from China Aerospace Investment Holdings Ltd. and Xi'an Aerospace Science & Technology Co., Ltd.
November 07, 2020
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Shaanxi Aerospace Power Hi-Tech Co., Ltd. (SHSE:600343) agreed to acquire remaining 34.8% stake in Xi'an Aerospace Pump Co., Ltd. from China Aerospace Investment Holdings Ltd. and Xi'an Aerospace Science & Technology Co., Ltd. on November 7, 2019. Shaanxi Aerospace Power Hi-Tech Co., Ltd. will acquire 17.23% and 17.58% stake from China Aerospace Investment Holdings Ltd. and Xi'an Aerospace Science & Technology Co., Ltd. respectively. Post completion, China Aerospace Investment Holdings Ltd. and Xi'an Aerospace Science & Technology Co., Ltd will hold no stake while Xi'an Aerospace Pump Co., Ltd. will become wholly owned subsidiary of Shaanxi Aerospace Power Hi-Tech Co., Ltd. For the period ended December 31, 2018, Xi'an Aerospace Pump Co., Ltd. has reported total assets of CNY 380.65 million, total liabilities of CNY 104.51 million, net assets of CNY 276.14 million, revenues of CNY 52.06 million and net income of CNY 0.33 million. The Board of Directors of Shaanxi Aerospace Power Hi-Tech Co., Ltd. has approved the transaction.
Shaanxi Aerospace Power Hi-Tech Co., Ltd. (SHSE:600343) cancelled the acquisition of remaining 34.8% stake in Xi'an Aerospace Pump Co., Ltd. from China Aerospace Investment Holdings Ltd. and Xi'an Aerospace Science & Technology Co., Ltd. on November 7, 2020.
SHAANXI AEROSPACE POWER HI-TECH CO.LID is a China-based company, principally engaged in the research, design, manufacture and distribution of general machinery and professional equipment. The Company mainly provides intelligent gas meters and intelligent data sampling modules, pumps and pump systems, chemical equipment, motors and hydraulic transmission products. In addition, it is engaged in the construction and installation business, as well as energy saving projects. The Company operates its businesses within domestic market and in overseas markets.
Shaanxi Aerospace Power Hi-Tech Co., Ltd. cancelled the acquisition of remaining 34.8% stake in Xi'an Aerospace Pump Co., Ltd. from China Aerospace Investment Holdings Ltd. and Xi'an Aerospace Science & Technology Co., Ltd.
SHAANXI AEROSPACE POWER HI-TECH CO., LTD. 
