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    601700   CNE100000Z83

CHANGSHU FENGFAN POWER EQUIPMENT CO., LTD.

(601700)
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Changshu Fengfan Power Equipment Co., Ltd. signed an agreement to acquire BeijingAll Fortune Technology Co.,Ltd. from a group of sellers for approximately CNY 470 million.

04/07/2021 EDT

Changshu Fengfan Power Equipment Co., Ltd. (SHSE:601700) signed an agreement to acquire BeijingAll Fortune Technology Co.,Ltd. from a group of sellers for approximately CNY 470 million on April 6, 2021. Changshu Fengfan Power Equipment acquired 80.98%, 13.95%, 1.35%, 0.93%, 0.47%, 0.37%, 0.37%, 0.23%, 0.23%, 0.19%, 0.14%, 0.14%, 0.14%, 0.14%, 0.14%, 0.14% and 0.09% stakes from Wang Xiaomei, Meng Jian, Wang Bo, Ling Hong, Lei Chongwen, Zhang Xinyuan, Ma Guangyuan, Zhang Meijing, Li Yingzhe, Wang Rui, Zhou Zhengying, Hou Hong Lu, Li Chunli, Feng Yatao, Chen Hong, Zhang Yan and Fang Xin. Under the terms, 60% of payment will be made within 20 working days from completion of industrial and commercial change registration, 20% payment shall be subject to earmarked for the personal income tax, 15% payment shall be paid within 20 days when Wang Xiaomei and Meng Jian on December 31, 2022 has actually reached or exceeded 100% and rest 5% payment within 20 days when perform the special stock purchase obligations. Wang Xiaomei and Meng Jian The financials of BeijingAll Fortune Technology for the financial year 2020 are total assets of CNY 186.9 million, owner's equity of CNY 151.3 million, operating revenues CNY 78 million, operating profit CNY 40.4 million and net profit of CNY 34.97 million.The transaction is approved by the Board of Directors of Changshu Fengfan Power Equipment.


ę S&P Capital IQ 2021
All news about CHANGSHU FENGFAN POWER EQUIPMENT CO., LTD.
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06/09Changshu Fengfan Power Equipment Co., Ltd. cancelled the acquisition of BeijingAll Fort..
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06/08Changshu Fengfan Power Equipment Scraps Plan to Buy Technology Firm
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04/29Changshu Fengfan Power Equipment Co., Ltd. Reports Earnings Results for the First Quart..
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04/07Changshu Fengfan Power Equipment Co., Ltd. signed an agreement to acquire BeijingAll Fo..
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03/30Changshu Fengfan Power Equipment Co., Ltd. Reports Earnings Results for the Full Year E..
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01/29Changshu Fengfan Power Equipment Co., Ltd. Provides Earnings Guidance for the Year 2020
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2020Changshu Fengfan Power Equipment Co., Ltd. Reports Earnings Results for the Nine Months..
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2020Changshu Fengfan Power Equipment Co., Ltd. cancelled the acquisition of BeijingAll Fort..
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2020Changshu Fengfan Power Equipment Co., Ltd. cancelled the transaction announced on Decem..
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Financials
Sales 2020 2 601 M 404 M 404 M
Net income 2020 219 M 34,0 M 34,0 M
Net Debt 2020 628 M 97,7 M 97,7 M
P/E ratio 2020 25,1x
Yield 2020 2,10%
Capitalization 4 771 M 741 M 742 M
EV / Sales 2019 2,48x
EV / Sales 2020 2,32x
Nbr of Employees -
Free-Float 45,3%
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Managers and Directors
Jian Gang Fan Chairman & General Manager
Jin Yuan Zhao Chairman-Supervisory Board
Jian Ping Yang Independent Director
Mu Gen Cheng Independent Director
Jian Zhong Lu Independent Director
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