Hangzhou Hangcha Kangli Forklift Attachments Co., Ltd. and Hangcha Group Co., Ltd. cancelled the acquisition of 55% stake in Huzhou Dachang Construction Machinery Co., Ltd.
January 17, 2018
Share
Hangzhou Hangcha Kangli Forklift Attachments Co., Ltd. and Hangcha Group Co., Ltd. (SHSE:603298) signed the share acquisition agreement to acquire 55% stake in Huzhou Dachang Construction Machinery Co., Ltd. for CNY 12.2 million on January 18, 2017. Under the terms of the transaction Hangzhou Hangcha Kangli Forklift Attachments Co., Ltd. will acquire 10% stake for CNY 2.2 million and Hangcha Group Co., Ltd. will acquire 45% stake for CNY 10 million. Post transaction Hangcha Group Co., Ltd. will have consolidated holding of 55% in Huzhou Dachang Construction Machinery Co., Ltd. Hangzhou Hangcha Kangli Forklift Attachments Co., Ltd. operates as a subsidiary of Hangcha Group Co., Ltd. Huzhou Dachang Construction Machinery Co., Ltd had total assets of CNY 11.83 million and net assets of CNY 9.7 million as on September 30, 2016. As of January 18, 2017 Board of Hangcha Group Co., Ltd. approved the transaction.
Hangzhou Hangcha Kangli Forklift Attachments Co., Ltd. and Hangcha Group Co., Ltd. (SHSE:603298) cancelled the acquisition of 55% stake in Huzhou Dachang Construction Machinery Co., Ltd. on January 18, 2018.
Hangcha Group Co.,Ltd. is a China-based company principally engaged in the research, development, manufacture and distribution of forklifts and other industrial vehicles. The Companyâs products mainly include combustion forklifts, electric forklift and other industrial vehicles. Its products are applied in the fields of manufacture industry, transportation industry, warehousing industry, postal industry, wholesale and retail industry. The Company distributes its products within domestic market and to overseas markets, including Brazil, America, Russia, as well as Southeast Asia, among others.
Hangzhou Hangcha Kangli Forklift Attachments Co., Ltd. and Hangcha Group Co., Ltd. cancelled the acquisition of 55% stake in Huzhou Dachang Construction Machinery Co., Ltd.
HANGCHA GROUP CO., LTD 
