Cang Bao Tian Xia International Art Trade Center, Inc. acquired Hainan Cangbao Tianxia Cultural Relic Co., Ltd and Cangbao Tianxia Cultural Relic Co., Ltd from Xingtao ZHOU, Wei WANG and Yaqin FU.
July 26, 2020
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Cang Bao Tian Xia International Art Trade Center, Inc. (OTCPK:TXCB) acquired Hainan Cangbao Tianxia Cultural Relic Co., Ltd and Cangbao Tianxia (Shanghai) Cultural Relic Co., Ltd from Xingtao ZHOU, Wei WANG and Yaqin FU on July 27, 2020. Under transaction, Xingtao ZHOU will sell 56% stake, Wei WANG will sell 24% stake and Yaqin FU will sell 20% stake in Hainan Cangbao Tianxia Cultural Relic Co., Ltd and Cangbao Tianxia (Shanghai) Cultural Relic Co., Ltd. As a part of consideration, Cang Bao Tian Xia International Art Trade Center, Inc. issued 75 million shares, representing approximately 67.98% stake to Xingtao ZHOU, Wei WANG and Yaqin FU, of which Xingtao ZHOU will receive 58.839271 million shares, representing 54.24% stake in Cang Bao Tian Xia International Art Trade Center, Inc. Post transaction, Hainan Cangbao Tianxia Cultural Relic Co., Ltd and Cangbao Tianxia (Shanghai) Cultural Relic Co., Ltd will operate as wholly owned subsidiaries of Cang Bao Tian Xia International Art Trade Center, Inc. Transaction has been approved by directors of Cang Bao Tian Xia International Art Trade Center, Inc., Hainan Cangbao Tianxia Cultural Relic Co., Ltd and Cangbao Tianxia (Shanghai) Cultural Relic Co., Ltd.
Cang Bao Tian Xia International Art Trade Center, Inc. (OTCPK:TXCB) completed the acquisition of Hainan Cangbao Tianxia Cultural Relic Co., Ltd and Cangbao Tianxia (Shanghai) Cultural Relic Co., Ltd from Xingtao ZHOU, Wei WANG and Yaqin FU on July 27, 2020.
CANG BAO TIAN XIA INTERNATIONAL ART TRADE CENTER, INC., formerly Zhongchai Machinery, Inc., through its subsidiaries, is focused on the manufacturing and distribution of drivetrain products, mainly transmission gearboxes, gears and transaxles in the Peopleâs Republic of China. These products are used for making industrial, agricultural, and construction machinery, such as forklift trucks, excavators, tractors, diesel engines and other machines. The gears produced by the Company are used for internal production of transmission gearboxes and sold mainly to Chinese diesel engine manufacturers. Zhongchai Machinery conducts all of its business operations in China through its overseas holding company, Zhongchai Holding (Hong Kong) Limited and Zhejiang Zhongchai Machinery Co., Ltd. that produces and sells transmission gearboxes, gears and transaxles.
Cang Bao Tian Xia International Art Trade Center, Inc. acquired Hainan Cangbao Tianxia Cultural Relic Co., Ltd and Cangbao Tianxia Cultural Relic Co., Ltd from Xingtao ZHOU, Wei WANG and Yaqin FU.
CANG BAO TIAN XIA INTERNATIONAL ART TRADE CENTER, INC. 
