Hunan Hongyubo Technology Co., Ltd. completed the acquisition of 55.7522% stake in ChangHong Grand-Pro Tech Co.,Ltd from Changhong Huayi Compressor Co., Ltd..
January 25, 2024
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Hunan Hongyubo Technology Co., Ltd. agreed to acquire 55.7522% stake in ChangHong Grand-Pro Tech Co.,Ltd from Changhong Huayi Compressor Co., Ltd. (SZSE:000404) for approximately CNY 200 million on December 27, 2023. The consideration consists of CNY 201 million in cash. As part of the consideration, CNY 201 million was paid towards common equity. The property rights transaction contract was signed on December 29, 2023. The transaction was approved by the Board of Directors and shareholders of Changhong Huayi Compressor Co., Ltd. On January 22, 2024, Changhong Huayi Compressor has terminated all guarantee agreements provided to ChangHong Grand-Pro Tech Co.,Ltd and its subsidiaries. On January 24, 2024, Changhong Huayi Compressor received the Property Rights Transaction Certificate issued by the Industry and Commerce Exchange.
Hunan Hongyubo Technology Co., Ltd. completed the acquisition of 55.7522% stake in ChangHong Grand-Pro Tech Co.,Ltd from Changhong Huayi Compressor Co., Ltd. (SZSE:000404) on January 26, 2024.
CHANGHONG HUAYI COMPRESSOR CO., LTD., formerly HUAYI COMPRESSOR CO., LTD., is a China-based company principally engaged in the general equipment manufacturing business. The Company's principal businesses include the development, manufacture and sales of refrigerator compressors and commercial compressors. The refrigerator compressors are mainly used in household refrigerators, freezers and other household appliances. The commercial compressors are mainly used in supermarket refrigerated display cabinets, fresh cabinets, automatic building machines and other fields. The Company mainly distributes its products in domestic market and overseas markets.
CHANGHONG HUAYI COMPRESSOR CO., LTD. 
