Fuxin Dare Automotive Parts Co., Ltd. partnership share transfer agreement to acquire an unknown minority stake in Liaoning Wancheng Enterprise Management Center (limited partnership) from Taicang Huifu No. 1 Investment Center (Limited Partnership) for CNY 75 million.
July 06, 2020
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Fuxin Dare Automotive Parts Co., Ltd. (SZSE:300473) partnership share transfer agreement to acquire an unknown minority stake in Liaoning Wancheng Enterprise Management Center (limited partnership) from Taicang Huifu No. 1 Investment Center (Limited Partnership) for CNY 75 million on July 7, 2020. At the same time, Directorate of Fuxin Dare Automotive Parts authorized its management personnel to acquire the remaining partnership share in Wancheng Enterprise held by Taicang Huifu No. 1 Investment Center (Limited Partnership) in 2020, and to sign the relevant agreement with Taicang Huifu No. 1 Investment Center (Limited Partnership). As on July 7, 2020, transaction was approved by the 34th session of the Fuxin Dare`s 3rd directorate. For the year ended 2019, Liaoning Wancheng Enterprise Management Center (limited partnership) reported revenue of CNY 2.840462 billion, Net profit of CNY 19.586121 million, Total assets of CNY 3.179634823 billion and Net assets of CNY 1.741216840 billion.
Fuxin Dare Automotive Parts Co., Ltd. is a China-based auto parts supplier. The Company's main products include sound insulation and noise reduction products, hydraulic steering pumps, electro-hydraulic steering pumps, hydraulic gear pumps, gearbox oil pumps, power steering tanks and automotive electronic products. The Company's products are used in steering, transmission, braking, automotive electronics and body assisted driving systems. The Company distributes its products in domestic market and to overseas markets.
Fuxin Dare Automotive Parts Co., Ltd. partnership share transfer agreement to acquire an unknown minority stake in Liaoning Wancheng Enterprise Management Center (limited partnership) from Taicang Huifu No. 1 Investment Center (Limited Partnership) for CNY 75 million.