Gongqingcheng Junshan Investment cancelled the transaction of 26% stake in Changzhou Langbo Sealing Technologies Co.,Ltd. from Qi Jianguo, Fan Xiaofeng and Changzhou Jintan Juntai Investment Consulting Co., Ltd.
September 27, 2023
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Gongqingcheng Junshan Investment agreed to acquire a 26% stake in Changzhou Langbo Sealing Technologies Co.,Ltd. (SHSE:603655) from Qi Jianguo, Fan Xiaofeng and Changzhou Jintan Juntai Investment Consulting Co., Ltd. for approximately CNY 750 million on March 1, 2023. In a related transaction, Liangyuan Selected No. 4 Private Equity Securities Fund managed by Shanghai Liangyuan Assets Management Co., Ltd. agreed to acquire a 10% stake in Changzhou Langbo Sealing Technologies Co.,Ltd. (SHSE:603655) from Qi Jianguo for approximately CNY 290 million, Liangyuan Selected No. 4 Private Equity Securities Fund managed by Shanghai Liangyuan Assets Management Co., Ltd. agreed to acquire a 10% stake in Changzhou Langbo Sealing Technologies Co.,Ltd. (SHSE:603655) from Qi Jianguo for approximately CNY 290 million and Hainan Deya Venture Capital Partnership agreed to acquire a 8% stake in Changzhou Langbo Sealing Technologies Co.,Ltd. (SHSE:603655) from Qi Jianguo for approximately CNY 230 million.Under the terms, Qingdao Aopa Xinrong will acquire 27.56 million shares at a price of CNY 27.15 per share. Currently, Qi Jianguo holds 42.45% stake, Fan Xiaofeng holds 11.32% stake and post acquisition Qi Jianguo will holds 7.35% stake in Changzhou Langbo Sealing. Qi Jianguo will sell 7.56 million shares, Fan Xiaofeng will sell 12 million shares and Changzhou Jintan Juntai Investment Consulting Co., Ltd. will sell 8 million shares. Gongqingcheng Junshan Investment Partnership will pay within 5 working days from the date when all the relevant conditions are satisfied or the Gongqingcheng Junshan Investment waives in writing
Gongqingcheng Junshan Investment cancelled the transaction of 26% stake in Changzhou Langbo Sealing Technologies Co.,Ltd. (SHSE:603655) from Qi Jianguo, Fan Xiaofeng and Changzhou Jintan Juntai Investment Consulting Co., Ltd. on September 28, 2023.
Changzhou Langbo Sealing Technologies Co., Ltd. is a China-based company which is mainly engaged in research and development, manufacture and sales of automotive rubber parts. The Companyâs main products include round rubber seals, shaft seals, wheel hubs and other miscellaneous pieces of products, such as shaped seals, dust covers, shock pads, pipe joints, jackets and other rubber parts. The Companyâs products are mainly used for automotive air conditioning systems, lighting systems, power steering systems. The Company mainly distributes its products in China.
Gongqingcheng Junshan Investment cancelled the transaction of 26% stake in Changzhou Langbo Sealing Technologies Co.,Ltd. from Qi Jianguo, Fan Xiaofeng and Changzhou Jintan Juntai Investment Consulting Co., Ltd.