China FV Group Ltd. completed the acquisition of remaining 51% stake in Fuyao Energy Technology Co., Ltd. from Shenzhen Hopewind Electric Co., Ltd..
December 15, 2020
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China FV Group Ltd. agreed to acquire remaining 51% stake in Fuyao Energy Technology (Shanghai) Co., Ltd. from Shenzhen Hopewind Electric Co., Ltd. (SHSE:603063) for CNY 310 million on November 13, 2020. As of December 31, 2019, Fuyao Energy Technology (Shanghai) Co., Ltd. recorded total assets of CNY 851.5 million, total liabilities of CNY 659 million, total revenues of CNY 708.9 million. As of June 30, 2020, Fuyao Energy Technology (Shanghai) Co., Ltd. recorded total assets of CNY 770.5 million, total liabilities of CNY 572.5 million, total revenues of CNY 241.7 million. On November 13, 2020, board of directors of Shenzhen Hopewind Electric Co., Ltd. approved the deal.
China FV Group Ltd. completed the acquisition of remaining 51% stake in Fuyao Energy Technology (Shanghai) Co., Ltd. from Shenzhen Hopewind Electric Co., Ltd. (SHSE:603063) on December 15, 2020.
Shenzhen Hopewind Electric Co., Ltd. is a China-based company principally engaged in the research and development, manufacturing and sales of electrical equipment. The Company's main products include wind power generation products, photovoltaic power generation products, intelligent operation and maintenance products and electrical drive products, such as wind power converters, photovoltaic inverters, electrical modules and other components. The Company mainly operates its business in the domestic market.