Changchai Company, Limited and Changzhou Investment Group Co.,Ltd signed an investment right transfer agreement to acquire 20% stake in Jiangsu Housheng New Energy Technology Co., Ltd. from Changzhou Xietong Chuangxin Equity Investment Partnership Enterprise (Limited Partnership) for CNY 0.
July 08, 2019
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Changchai Company, Limited (SZSE:000570) and Changzhou Investment Group Co.,Ltd signed an investment right transfer agreement to acquire 20% stake in Jiangsu Housheng New Energy Technology Co., Ltd. from Changzhou Xietong Chuangxin Equity Investment Partnership Enterprise (Limited Partnership) for CNY 0 on July 8, 2019. Post completion, Changzhou Xietong Chuangxin Equity Investment Partnership Enterprise, Changzhou Dingying Investment Partnership Enterprise (Limited Partnership), Changchai Company, Limited and Changzhou Investment Group will hold 68%, 12%, 10% and 10% stake in Jiangsu Housheng New Energy Technology respectively. As of December 31, 2018, Jiangsu Housheng New Energy Technology reported total assets of CNY 264.22 million, total common equity of CNY 192.93 million, revenue of CNY 0 and net loss of CNY 4.9 million. The transaction was approved byt he board of directors of Changchai Company on the 8th directorate’s 19th meeting held on July 9, 2019. The transaction does not need approval of Changchai Company's shareholders.
CHANGCHAI COMPANY, LIMITED is a China based company principally engaged in the production and sales of diesel engines. The Company's main product is Changchai trademark of middle-size and small-size single cylinder and multi-cylinder diesel engines. The Company's products are mainly used in tractors, combine harvesters, light commercial vehicles, agricultural equipments, small construction machinery, generator sets and ship engines. The Company distributes its products within the domestic market and to overseas markets.
Changchai Company, Limited and Changzhou Investment Group Co.,Ltd signed an investment right transfer agreement to acquire 20% stake in Jiangsu Housheng New Energy Technology Co., Ltd. from Changzhou Xietong Chuangxin Equity Investment Partnership Enterprise (Limited Partnership) for CNY 0.
CHANGCHAI COMPANY, LIMITED 
