Shao Weihua completed the acquisition of 13.13% stake in Guangdong Shunna Electric Co., Ltd. from Tibet Xinyeda Trading Co., Ltd.
July 07, 2019
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Shao Weihua signed a share transfer agreement to acquire 13.13% stake in Guangdong Shunna Electric Co., Ltd. (SZSE:000533) from Tibet Xinyeda Trading Co., Ltd. for approximately CNY 250 million on May 15, 2019. under the terms, Shao Weihua will transfer 90.72 million shares of Guangdong Shunna Electric at CNY 2.81 per shares. Post completion, Shao Weihua will own 92.90 million shares in Guangdong Shunna Electric, accounting for 13.45% stake and Tibet Xinyeda Trading will no longer own any shares in Guangdong Shunna Electric.
Shao Weihua completed the acquisition of 13.13% stake in Guangdong Shunna Electric Co., Ltd. (SZSE:000533) from Tibet Xinyeda Trading Co., Ltd. on July 8, 2019.
Guangdong Shunna Electric Co., Ltd., formerly Guangdong Macro Co., Ltd., is a China-based company principally engaged in the manufacture and sale of power transmission and distribution equipment. The Company is also engaged in bulk trading and supply chain services for transmission and distribution products. The Company's power transmission and distribution equipment mainly include dry transformers, preinstalled substations, combined transformers, medium- and low-voltage switchgears and dry reactors, among others. The Company mainly conducts its business in the Chinese domestic market.
GUANGDONG SHUNNA ELECTRIC CO., LTD 
