Shenzhen Fangjie Industrial Co., Ltd. cancelled the acquisition to acquire 8.2% stake in Shanghai CENAT New Energy Company Limited from IAT Automobile Technology Co., Ltd., Suzhou Zenio New Energy Technologies Co., Ltd. and Suzhou Zenio New Energy Technologies Co., Ltd.
January 21, 2020
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Shenzhen Fangjie Industrial Co., Ltd. agreed to acquire 8.2% stake in Shanghai CENAT New Energy Company Limited from IAT Automobile Technology Co., Ltd., Suzhou Zenio New Energy Technologies Co., Ltd. and Suzhou Zenio New Energy Technologies Co., Ltd. for approximately CNY 130 million on January 22, 2019. As per the terms of truncation, IAT Automobile Technology will sale 9.36 million shares represent 1.5% stake, Suzhou Zenio New Energy Technologies Co., Ltd. will sale 33.7 million shares represent 5.4% stake and Shanghai Naichuang Investment Partnership Enterprise (Limited Partnership) will sale 8.1 million shares represent 1.3% stake in Shanghai CENAT New Energy to Shenzhen Fangjie Industrial Co., Ltd. In an another transaction, Shenzhen Bangya Electronics Co., Ltd. signed a share transfer agreement to acquire 9.6% stake in Shanghai CENAT New Energy Company Limited from Zhejiang Wanfeng Auto Wheel Co., Ltd. (SZSE:002085) for approximately CNY 150 million on December 25, 2018. The total consideration of both transaction is CNY 286.5 million.
For the September 30, 2018, Shanghai CENAT New Energy Company Limited reported total assets of CNY 1.3 billion. and net assets of CNY 661.6 million. The transaction of giving up of pre-emptive rights was approved by the 54th session of 6th directorate of Shenzhen Clou Electronics Co., Ltd. as Shanghai CENAT New Energy Company Limited operates as a subsidiary of Shenzhen Clou Electronics Co., Ltd.
Shenzhen Fangjie Industrial Co., Ltd. cancelled the acquisition to acquire 8.2% stake in Shanghai CENAT New Energy Company Limited from IAT Automobile Technology Co., Ltd., Suzhou Zenio New Energy Technologies Co., Ltd. and Suzhou Zenio New Energy Technologies Co., Ltd. on January 22, 2020.
IAT Automobile Technology Co Ltd is a China-based company mainly engaged in the research and development (R&D) and manufacturing of automobiles and core components. The Company's R&D business includes vehicle R&D, platform R&D and architecture design, and intelligent key software and hardware R&D. The products developed and manufactured business mainly focus on V6 fuel and clean fuel engines, hybrid power systems such as range extenders, and core components related to automotive power systems such as reducers, couplers, range extenders, and integrated new energy powertrains. The Company operates its businesses primarily in the domestic market.
Shenzhen Fangjie Industrial Co., Ltd. cancelled the acquisition to acquire 8.2% stake in Shanghai CENAT New Energy Company Limited from IAT Automobile Technology Co., Ltd., Suzhou Zenio New Energy Technologies Co., Ltd. and Suzhou Zenio New Energy Technologies Co., Ltd.
IAT AUTOMOBILE TECHNOLOGY CO., LTD. 
