Shanghai Beite Technology Co., Ltd. agreed to acquire 55% stake in Jiangsu Erhuajie Energy Equipment Co., Ltd. from Beijing Jinyu Weiye Technology Trade Co., Ltd., Jin Chunmei and Jin Chunyan for CNY 70.5 million.
March 23, 2021
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Shanghai Beite Technology Co., Ltd. (SHSE:603009) agreed to acquire 55% stake in Jiangsu Erhuajie Energy Equipment Co., Ltd. from Beijing Jinyu Weiye Technology Trade Co., Ltd., Jin Chunmei and Jin Chunyan for CNY 70.5 million on March 22, 2021. The consideration will be paid in tranches. Jiangsu Erhuajie Energy Equipment Co., Ltd. reported total assets of CNY 76.1 million, net assets of CNY 69.2438 million, revenue of CNY 9.1797 million and net profit of CNY 4.235 million as of December 31, 2020. The transaction is approved by the Board of Shanghai Beite Technology Co., Ltd.
SHANGHAI BEITE TECHNOLOGY CO., LTD. is a China-based company, principally engaged in the research and development, production and sales of automobile parts. The Company mainly provides two categories of semi-finished and finished products: steering gear parts, including racks, input shafts, valve sleeves, pinions and others, as well as shock absorber parts, including piston rods and others. The Company distributes its products within domestic market and to overseas markets.
Shanghai Beite Technology Co., Ltd. agreed to acquire 55% stake in Jiangsu Erhuajie Energy Equipment Co., Ltd. from Beijing Jinyu Weiye Technology Trade Co., Ltd., Jin Chunmei and Jin Chunyan for CNY 70.5 million.
SHANGHAI BEITE TECHNOLOGY CO., LTD. 