Baoding Zhipu Electric Power Technology Co., Ltd. signed the contract to acquire 18% stake in Hebei Tianwei-huarui Electric Co., Ltd. from Advanced Technology & Materials Co., Ltd. for CNY 8.2 million.
February 23, 2021
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Baoding Zhipu Electric Power Technology Co., Ltd. signed the contract to acquire 18% stake in Hebei Tianwei-huarui Electric Co., Ltd. from Advanced Technology & Materials Co., Ltd. (SZSE:000969) for CNY 8.2 million on February 4, 2021. Under the terms, within 15 working days after the full transaction price has been paid Advanced Technology & Materials Co., Ltd. shall urge the target company to go through the equity change registration. On February 7, 2021, the company received the Enterprise State-owned Assets Transaction Certificate. February 10, 2021, it received the entire price of the above equity transaction remitted by China Beijing Equity Exchange Co., Ltd. After the transaction Advanced Technology & Materials will not hold any stake in Hebei Tianwei-huarui Electric Co., Ltd. The transaction is approved by the Board of Directors of Advanced Technology & Materials.
Advanced Technology & Materials Co., Ltd specializes in development, manufacturing and marketing of advanced metal materials. The group proposes extra hard and refractory materials, functional materials, fine materials and biomedical materials primarily for energy, aerospace industry, computing and metallurgical industry sectors.
Baoding Zhipu Electric Power Technology Co., Ltd. signed the contract to acquire 18% stake in Hebei Tianwei-huarui Electric Co., Ltd. from Advanced Technology & Materials Co., Ltd. for CNY 8.2 million.