Henan Mingtai Al.Industrial Co.,Ltd. signed an agreement to acquire 2.33% stake in Zhengzhou CRRC Sifang Rail Vehicle Co., Ltd. from Zhengzhou Investment Holdings Co., Ltd. for CNY 20.9 million.
December 16, 2021
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Henan Mingtai Al.Industrial Co.,Ltd. (SHSE:601677) signed an agreement to acquire 2.33% stake in Zhengzhou CRRC Sifang Rail Vehicle Co., Ltd. from Zhengzhou Investment Holdings Co., Ltd. for CNY 20.9 million on December 17, 2021. Zhengzhou CRRC Sifang reported total assets as CNY 1.4 billion and net assets as approximately CNY 580 million for the period end on September 30, 2021. Zhengzhou CRRC reported operating income as CNY 1.2 billion and net profit as CNY 25.6 million for the period end on December 31, 2020. This transaction has been reviewed and approved at the 29th meeting of the company's fifth board of directors and does not need to be submitted to the company's shareholders meeting for deliberation.
Henan Mingtai Al Industrial Co Ltd is a China-based company mainly engaged in the aluminum sheet, strip and foil, aluminum profiles and comprehensive utilization of renewable resources. The Company's main products include soft pack battery aluminum foil, electronic foil, checkered plate, commercial vehicle lightweight material, food and drug packaging foil, rail car body profile, aluminum alloy rail car body, new energy battery tray, automotive profile, extruded aluminum for Ultra High Voltage (UHV) transmission equipment Gas Insulated Line (GIL) Pipes, rail vehicle interior parts and other products. The Company's products are mainly used in new energy, new materials, Fifth Generation (5G) communication, pharmaceutical packaging, food packaging, transportation, UHV power transmission, rail car body, military industry and many other fields. The Company distributes its products in domestic market and to overseas markets.
Henan Mingtai Al.Industrial Co.,Ltd. signed an agreement to acquire 2.33% stake in Zhengzhou CRRC Sifang Rail Vehicle Co., Ltd. from Zhengzhou Investment Holdings Co., Ltd. for CNY 20.9 million.