Hainan Huazhen Ruiyuan Enterprise Management Consulting Center (Limited Partnership) signed a share transfer agreement to acquire 5.2% stake in Anhui Fengxing Wear Resistant Materials Co., Ltd. from Chen Xiao for approximately CNY 120 million.
July 18, 2021
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Hainan Huazhen Ruiyuan Enterprise Management Consulting Center (Limited Partnership) signed a share transfer agreement to acquire 5.2% stake in Anhui Fengxing Wear Resistant Materials Co., Ltd. (SZSE:002760) from Chen Xiao for approximately CNY 120 million on July 19, 2021. Under the terms of the transaction, Chen Xiao sold 4.6 million shares for CNY 27 per share. Three working days after the Shenzhen Stock Exchange confirms the compliance of the subject share transfer matter, 20% of the share transfer price, which is CNY 24.74 million, shall be paid; on the day after the completion of the transfer and settlement, 40% of the share transfer price shall be paid, which is CNY 49.48 million; within 30 days after the completion of the transfer and settlement, 40% of the share transfer price shall be paid, which is CNY 49.48 million. In a related transaction, Chen Yuhua signed a share transfer agreement to acquire 5.2% stake in Anhui Fengxing Wear Resistant Materials Co., Ltd. from Chen Xiao for approximately CNY 120 million on July 19, 2021. Post-closing, Chen Xiao and Hainan Huazhen Ruiyuan Enterprise Management Consulting Center (Limited Partnership) will hold 2% and 5.2058% stake in Anhui Fengxing Wear Resistant Materials Co., Ltd. respectively.
Fengxing Co Ltd, formerly Anhui Fengxing Wear Resistant Materials Co Ltd, is a China-based company mainly engaged in high-efficiency and environmentally friendly motors and integrated system solutions for marine power business and wear-resistant materials business. The high-efficiency and environmentally friendly motors and integrated system solutions for marine power business is mainly engaged in the research and development, manufacturing, sales and service of high-efficiency and environmental-friendly generators and their application in specific scenarios. The wear-resistant materials business is specialized in the research and development, production, sales and technical services of wear-resistant materials, including high-chromium ball sections, extra-high-chromium ball sections, liners and others.
Hainan Huazhen Ruiyuan Enterprise Management Consulting Center (Limited Partnership) signed a share transfer agreement to acquire 5.2% stake in Anhui Fengxing Wear Resistant Materials Co., Ltd. from Chen Xiao for approximately CNY 120 million.