Qinghai Xiangxin Tongjia Construction Engineering Co., Ltd. completed the acquisition of Qinghai Huading Heavy Machine Tool Co., Ltd. from QingHaiHuaDing Industrial CO.,LTD..
December 30, 2020
Share
Qinghai Xiangxin Tongjia Construction Engineering Co., Ltd. signed a share purchase agreement to acquire Qinghai Huading Heavy Machine Tool Co., Ltd. from QingHaiHuaDing Industrial CO.,LTD. (SHSE:600243) for CNY 190 million on November 30, 2020. Under the terms of transaction, Qinghai Xiangxin Tongjia Construction Engineering Co., Ltd. will pay CNY 96.9 million on December 28, 2020, CNY 36.1 million on March 31, 2021 and remaining CNY 57 million on December 31, 2021. The Board of QingHaiHuaDing Industrial CO.,LTD. approved the transaction. QingHaiHuaDing Industrial CO.,LTD. shareholders approved the transaction on December 16, 2020.
Qinghai Xiangxin Tongjia Construction Engineering Co., Ltd. completed the acquisition of Qinghai Huading Heavy Machine Tool Co., Ltd. from QingHaiHuaDing Industrial CO.,LTD. (SHSE:600243) on December 31, 2020. Qinghai Xiangxin Tongjia received 51% of the total consideration and completed the industrial and commercial change registration procedures for this equity transfer.
QingHai HuaDing Industrial Co Ltd is a China-based company principally engaged in the manufacturer and sales of mechanical products. The Company's main products consist of machine tools, food processing machines, elevator components, gearboxes, lighting equipment, hotel equipment and others. It is also engaged in the provision of food and medical services. Its products are applied in metallurgy, ship, property development and food manufacturing industries, among others. The Company distributes its products primarily in domestic markets, with South China and Northeast China as its major markets.
Qinghai Xiangxin Tongjia Construction Engineering Co., Ltd. completed the acquisition of Qinghai Huading Heavy Machine Tool Co., Ltd. from QingHaiHuaDing Industrial CO.,LTD..
QINGHAI HUADING INDUSTRIAL CO., LTD. 
