Zhufeng Qianxi No. 1 Private Equity Securities Investment Fund. managed by Zhufeng Asset Management Co., Ltd. cancelled the acquisition of a 5.44% stake in AA Industrial Belting Co.,Ltd from Tu Mulin.
April 25, 2023
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Zhufeng Qianxi No. 1 Private Equity Securities Investment Fund. managed by Zhufeng Asset Management (Beijing) Co., Ltd. agreed to acquire 5.44% of stake in AA Industrial Belting (Shanghai) Co.,Ltd (SHSE:603580) from Tu Mulin for approximately CNY 100 million on December 19, 2022. Under the terms, CNY 14.32 per shares in cash will be given for 7.10 million shares. Currently Tu Mulin holds 33.75% stake and post completion will hold Tu Mulin 28.31% stake in AA Industrial Belting.
Zhufeng Qianxi No. 1 Private Equity Securities Investment Fund. managed by Zhufeng Asset Management (Beijing) Co., Ltd. cancelled the acquisition of a 5.44% stake in AA Industrial Belting (Shanghai) Co.,Ltd (SHSE:603580) from Tu Mulin on April 26, 2023.
AA Industrial Belting (Shanghai) Co., Ltd. is a China-based company principally engaged in the research and development, production and sales of conveyor belts. The Company's main products include thermoplastic urethane (TPU) conveyor belts, thermoplastic polyester elastomeric (TPEE) conveyor belts, polyvinyl chloride (PVC) conveyor belts, polyethylene (PE) conveyor belts and seamless conveyor belts. The Company mainly distributed its products in domestic and overseas markets, including Europe, the Middle East, Southeast Asia and the Americas.
Zhufeng Qianxi No. 1 Private Equity Securities Investment Fund. managed by Zhufeng Asset Management Co., Ltd. cancelled the acquisition of a 5.44% stake in AA Industrial Belting Co.,Ltd from Tu Mulin.
AA INDUSTRIAL BELTING (SHANGHAI) CO.,LTD 
