Changsha Water Group Co., Ltd. completed the acquisition of an additional 8.02% stake in China Oil HBP Science & Technology Co., Ltd from Huang Song, Xiao Rong, Wang Yigang, Wang Quan, Pan Feng, Sun Hesheng, Zhang Haiting and Li Xue.
August 18, 2019
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Changsha Water Group Co., Ltd. signed the share transfer agreement to acquire an additional 8.02% stake in China Oil HBP Science & Technology Co., Ltd (SZSE:002554) from Huang Song, Xiao Rong, Wang Yigang, Wang Quan, Pan Feng, Sun Hesheng, Zhang Haiting and Li Xue for CNY 330 million on May 9, 2019. Changsha Water Group Co., Ltd. will acquire 85.8 million shares at a price of CNY 3.86 per share. The transaction is subject to approval of shareholders of Changsha Water Group Co., Ltd. and approval from the State-owned Assets Supervision and Administration Commission of Hunan Province and other departments required by law. The transaction is approved by Board of Directors of Changsha Water Group Co., Ltd.
Changsha Water Group Co., Ltd. completed the acquisition of an additional 8.02% stake in China Oil HBP Science & Technology Co., Ltd (SZSE:002554) from Huang Song, Xiao Rong, Wang Yigang, Wang Quan, Pan Feng, Sun Hesheng, Zhang Haiting and Li Xue on August 19, 2019. Changsha Water Group Co., Ltd. held 2% stake in China Oil HBP Science & Technology Co., Ltd prior to the transaction and holds a total of 10.02% stake in China Oil HBP Science & Technology Co., Ltd post completion. Huang Song held 14.40% stake in China Oil HBP Science & Technology Co., Ltd prior to the transaction and does not hold any stake in China Oil HBP Science & Technology Co., Ltd post completion.
Xiao Rong held 7.69% stake in China Oil HBP Science & Technology Co., Ltd prior to the transaction and holds 5.76% stake in China Oil HBP Science & Technology Co., Ltd post completion. On August 20, 2019, the Company received a “Securities Transfer Confirmation Letter” issued by the China Securities Depository and Clearing Co., Ltd. Shenzhen Branch.
CHINA OIL HBP SCIENCE & TECHNOLOGY CO., LTD is a China-based company, principally engaged in the provision of oil and gas exploitation services. The Company operates its businesses through three segments. The Oil and Gas Field Equipment and Engineering General Contracting segment is engaged in the provision of energy saving and environmental protection system equipment, as well as the engineering general contracting services. The Petrochemical Environmental Protection Equipment and Services segment is engaged in the provision of technical services, including automation engineering and pollutant disposal, among others. The Oil and Gas Development and Utilization segment is engaged in the investment of gas station projects and others. The Company operates its businesses in domestic and overseas markets.
Changsha Water Group Co., Ltd. completed the acquisition of an additional 8.02% stake in China Oil HBP Science & Technology Co., Ltd from Huang Song, Xiao Rong, Wang Yigang, Wang Quan, Pan Feng, Sun Hesheng, Zhang Haiting and Li Xue.
CHINA OIL HBP SCIENCE & TECHNOLOGY CO., LTD 
