Chen Yuhua signed a share transfer agreement to acquire 5.2% stake in Anhui Fengxing Wear Resistant Materials Co., Ltd. from Chen Xiao for approximately CNY 120 million.
July 18, 2021
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Chen Yuhua signed a share transfer agreement to acquire 5.2% stake in Anhui Fengxing Wear Resistant Materials Co., Ltd. (SZSE:002760) from Chen Xiao for approximately CNY 120 million on July 19, 2021. Under the terms of the transaction, Chen Xiao sold 4.6 million shares for CNY 27 per share. In a related transaction, Hainan Huazhen Ruiyuan Enterprise Management Consulting Center (Limited Partnership) signed a share transfer agreement to acquire 5.2% stake in Anhui Fengxing Wear Resistant Materials Co., Ltd. (SZSE:002760) from Chen Xiao for approximately CNY 120 million on July 19, 2021. Post-closing, Chen Xiao owns 2% stake in Anhui Fengxing Wear Resistant Materials Co., Ltd.
Fengxing Co Ltd, formerly Anhui Fengxing Wear Resistant Materials Co Ltd, is a China-based company mainly engaged in high-efficiency and environmentally friendly motors and integrated system solutions for marine power business and wear-resistant materials business. The high-efficiency and environmentally friendly motors and integrated system solutions for marine power business is mainly engaged in the research and development, manufacturing, sales and service of high-efficiency and environmental-friendly generators and their application in specific scenarios. The wear-resistant materials business is specialized in the research and development, production, sales and technical services of wear-resistant materials, including high-chromium ball sections, extra-high-chromium ball sections, liners and others.
Chen Yuhua signed a share transfer agreement to acquire 5.2% stake in Anhui Fengxing Wear Resistant Materials Co., Ltd. from Chen Xiao for approximately CNY 120 million.