Chongqing Zongshen Power Machinery Co.,Ltd agreed to acquire 11.7647% stake in Chongqing Liangjiang New District Zongshen Microfinance Co., Ltd. from Chongqing Zongshen Motorcycle Industry Manufacturing Co., Ltd. for CNY 97.5 million.
November 25, 2021
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Chongqing Zongshen Power Machinery Co.,Ltd (SZSE:001696) agreed to acquire 11.7647% stake in Chongqing Liangjiang New District Zongshen Microfinance Co., Ltd. from Chongqing Zongshen Motorcycle Industry Manufacturing Co., Ltd. for CNY 97.5 million on November 25, 2021. As on October 31, 2021, Chongqing Liangjiang New District Zongshen Microfinance Co., Ltd. generated total assets of CNY 1.4 billion and net assets of CNY 799.3 million. The transaction is approved by board of directors of Chongqing Zongshen Power Machinery Co.,Ltd.
CHONGQING ZONGSHEN POWER MACHINERY CO.,LTD is a China-based company principally engaged in the research and development, manufacture and sale of small thermodynamic machinery. The Companyâs main products include engines and spare parts; general gasoline engines, tillage, lawn mower, pumps, gasoline generator sets and components; motorcycle parts and auto parts. The Company distributes its products in domestic market and to overseas markets.
Chongqing Zongshen Power Machinery Co.,Ltd agreed to acquire 11.7647% stake in Chongqing Liangjiang New District Zongshen Microfinance Co., Ltd. from Chongqing Zongshen Motorcycle Industry Manufacturing Co., Ltd. for CNY 97.5 million.