Beijing SPC Environment Protection Tech Co., Ltd. completed the acquisition of Chongqing Top Yuhu New Energy Co., Ltd. and Ningxia Energy Conservation Maoye Waste Heat Power Generation Co., Ltd. from Top Resource Conservation & Environment Corp..
May 31, 2021
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Beijing SPC Environment Protection Tech Co., Ltd. (SZSE:002573) agreed to acquire Chongqing Top Yuhu New Energy Co., Ltd. and Ningxia Energy Conservation Maoye Waste Heat Power Generation Co., Ltd. from Top Resource Conservation & Environment Corp. (SZSE:300332) for approximately CNY 860 million on December 3, 2020. On April 7, 2021, Beijing SPC Environment Energy Saving Tech Co., Ltd. signed a supplementary agreement to acquire Chongqing Top Yuhu New Energy Co., Ltd. and Ningxia Energy Conservation Maoye Waste Heat Power Generation Co., Ltd. for CNY 857.44 million. As per the agreement Beijing SPC Environment Energy Saving Tech Co., Ltd. will pay CNY 77.5 million Ningxia Energy Conservation Maoye Waste Heat Power Generation Co., Ltd instead of CNY 84.06 million. As of December 31, 2019, Chongqing Top Yuhu New Energy Co., Ltd. recorded the total assets of CNY 53.39 million, total common equity of CNY 52.67 million, EBIT of CNY 0.83 million, net profit of CNY 0.78 million and Ningxia Energy Conservation Maoye Waste Heat Power Generation Co., Ltd. recorded the total assets of CNY 90.03 million, total common equity of CNY 85.91 million, EBIT of CNY 19.66 million, net profit of CNY 2.04 million. As of December 31, 2019, Chongqing Top Yuhu New Energy Co., Ltd. recorded the total assets of CNY 54.82 million, total common equity of CNY 54.27 million, EBIT of CNY 1.5 million, net profit of CNY 1.6 million and Ningxia Energy Conservation Maoye Waste Heat Power Generation Co., Ltd. recorded the total assets of CNY 136.44 million, total common equity of CNY 82.23 million, EBIT of CNY 5.2 million, net loss of CNY 3.72 million. As of December 3, 2020, Beijing SPC Environment Protection Tech Co., Ltd. (SZSE:002573) and Top Resource Conservation & Environment Corp. (SZSE:300332) Board of directors approved the deal. Transaction must be approved by the shareholders of Top Resource Conservation & Environment Corp. The supplement was approved by the board of directs of Top Resource Conservation & Environment Corp. sixteenth meeting of the company's fourth board of directors meeting held on April 7, 2021. As of April 22, 2021, The transaction has been approved by shareholders of Top Resource Conservation & Environment Corp.
Beijing SPC Environment Protection Tech Co., Ltd. (SZSE:002573) completed the acquisition of Chongqing Top Yuhu New Energy Co., Ltd. and Ningxia Energy Conservation Maoye Waste Heat Power Generation Co., Ltd. from Top Resource Conservation & Environment Corp. (SZSE:300332) on May 31, 2021
Top Resource Energy Co Ltd, formerly Top Resource Conservation & Environment Corp, is a China-based company principally engaged in the natural gas supply and related equipment installation, as well as the contract energy management of cogeneration projects. Its cogeneration businesses include the investment, construction and operation of cogeneration power plants, the utilization of excess heat and pressure in gas pipeline pressuring stations, as well as the provision of contracting and technical services for cogeneration projects. The Company also provides contracting and technical services for flue-gas treatment projects, Internet financial information services and commodity sales services. The Company mainly operates its businesses in domestic market.
Beijing SPC Environment Protection Tech Co., Ltd. completed the acquisition of Chongqing Top Yuhu New Energy Co., Ltd. and Ningxia Energy Conservation Maoye Waste Heat Power Generation Co., Ltd. from Top Resource Conservation & Environment Corp..