Era Co., Ltd. agreed to acquire a 6% stake in Zhejiang Yuanbang Intelligent Equipment Co., Ltd. from China ERA Plastic Industry Group Co., Ltd. for CNY 4.1 million.
April 21, 2023
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Era Co., Ltd. (SZSE:002641) agreed to acquire a 6% stake in Zhejiang Yuanbang Intelligent Equipment Co., Ltd. from China ERA Plastic Industry Group Co., Ltd. for CNY 4.1 million on April 21, 2023. Post acquisition, Era Co., will hold 50.11% stake and China ERA Plastic will hold 49.89% stake. Transaction is approved by Era's board.
For the period ended March 31, 2023, Zhejiang Yuanbang Intelligent had CNY 99.08 million of total assets and CNY 68.37 million of net assets.
Era Co Ltd, formerly Yonggao Co Ltd, is a China-based company mainly engaged in the manufacture of plastic pipes. The Company operates in three segments. Plastic Pipe segment is mainly engaged in the research and development, production and sales of polyvinyl chloride (PVC), polyethylene (PE) and random copolymer polypropylene (PP-R) plastic pipes. Electrical Switches segment is mainly engaged in the development and production of electrical switches and other home appliances. Solar Energy segment is mainly engaged in the research and development, production and sales of photovoltaic energy-saving products such as solar cell modules and photovoltaic power generation systems. The Company's products are mainly used for water supply, drainage, municipal engineering water supply, drainage and sewage, photovoltaic power generation, smart home and so on.
Era Co., Ltd. agreed to acquire a 6% stake in Zhejiang Yuanbang Intelligent Equipment Co., Ltd. from China ERA Plastic Industry Group Co., Ltd. for CNY 4.1 million.