SUFA Technology Industry Co., Ltd. CNNC cancelled the acquisition of 18.33299% stake in Henan Hejing Cleaning technology Co., Ltd. from a group of shareholders.
May 12, 2022
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SUFA Technology Industry Co., Ltd. CNNC (SZSE:000777) signed an agreement to acquire 18.33299% stake in Henan Hejing Cleaning technology Co., Ltd. from a group of shareholders on December 10, 2021. In related transaction, SUFA Technology Industry Co., Ltd. will acquire 72.50245% stake in Henan Hejing Cleaning technology Co., Ltd. from a group of shareholders on December 10, 2021. As per the transaction SUFA Technology Industry Co., Ltd. will acquire 9.16455% stake from Zou Di, Li Xifeng, Han Xiushen, Feng Chaoyang, Gu Xianhua, Liu Ge, Zeng Xinyao, Li Jie and Sun Guangyu and 9.16844% stake from Sun Chao, Sui Yi, Wang Qiang, Zhang Xiurong, Hao Gang, Shen Gang, Lin Jie by way of share issuance and cash payment. SUFA Technology Industry Co., Ltd. CNNC will raise supporting funds of not more than CNY 382 million to pay for the transaction's cash consideration and to replenish the company's working capital. As on September 30, 2021, Henan Hejing Cleaning technology Co., Ltd. generated total assets of CNY 348.7 million. The transaction is subject to approvals by SUFA Technology Industry Co., Ltd. CNNC's board of directors, shareholders and regulatory authorities.
SUFA Technology Industry Co., Ltd. CNNC (SZSE:000777) cancelled the acquisition of 18.33299% stake in Henan Hejing Cleaning technology Co., Ltd. from a group of shareholders on May 12, 2022.
SUFA Technology Industry Co., Ltd. CNNC is a China-based company principally engaged in the design, research, development, manufacture, sale and provision of services of industrial valves. The Companyâs main products include gate valves, stop valves, check valves, ball valves, butterfly valves, diaphragm valves and regulating valves, among others. The Company's valve products are mainly used in nuclear, petroleum, chemical engineering, metallurgy, electricity and other industries. The Company is also involved in blank manufacturing and other businesses. The Company distributes its products in domestic market and to overseas markets.
SUFA Technology Industry Co., Ltd. CNNC cancelled the acquisition of 18.33299% stake in Henan Hejing Cleaning technology Co., Ltd. from a group of shareholders.
SUFA TECHNOLOGY INDUSTRY CO., LTD., CNNC 
