Wuchan Zhongda Industrial Investment Co., Ltd. signed an equity transfer agreement to acquire 43.3649% stake in Zhejiang Qixin Alloy Materials Co., Ltd. from China Zheshang Bank Co., Ltd, Hua Xia Bank Co., Limited, Wanxiang Trust Co., Ltd. and Zheshang Jinhui Trust Co., Ltd.
August 18, 2023
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Wuchan Zhongda (Zhejiang) Industrial Investment Co., Ltd. signed an equity transfer agreement to acquire 43.3649% stake in Zhejiang Qixin Alloy Materials Co., Ltd. from China Zheshang Bank Co., Ltd, Hua Xia Bank Co., Limited, Wanxiang Trust Co., Ltd. and Zheshang Jinhui Trust Co., Ltd. on August 18, 2023. As of June 30, 2023, Zhejiang Qixin Alloy Materials Co., Ltd. reported total assets of CNY 3.6 billion and net assets of CNY 3.2 billion. The deal has been approved by board of directors of Wuchan Zhongda Group Co., Ltd., and is subject to approval from regulatory board.
China Zheshang Bank Co Ltd is a China-based company operates as a commercial bank. The Bank operates its businesses through segments: Corporate Banking segment, which provides financial products and services to corporations, government agencies and financial institutions, and its range of products and services include corporate loans and advances, trade finance, deposit products and other types of corporate intermediary services; Retail Banking segment, which provides financial products and services to individual customers, and its range of products and services includes personal loans and advances, deposit products, bank cards business and other types of personal intermediary services; Treasury Business segment, which conducts money market and repurchase transactions, debt instruments investments and financial derivatives business for proprietary trading or on behalf of customers, and Others segment.
Wuchan Zhongda Industrial Investment Co., Ltd. signed an equity transfer agreement to acquire 43.3649% stake in Zhejiang Qixin Alloy Materials Co., Ltd. from China Zheshang Bank Co., Ltd, Hua Xia Bank Co., Limited, Wanxiang Trust Co., Ltd. and Zheshang Jinhui Trust Co., Ltd.
CHINA ZHESHANG BANK CO., LTD 
