Tang Xintian agreed to acquire 10% stake in Anhui Zhiou Drive Technology Co., Ltd. from Jiangsu Guomao Reducer Co., Ltd. for CNY 12.3 million.
August 28, 2023
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Tang Xintian agreed to acquire 10% stake in Anhui Zhiou Drive Technology Co., Ltd. from Jiangsu Guomao Reducer Co., Ltd. (SHSE:603915) for CNY 12.3 million on August 25, 2023. The transaction is approved by board of directors of Jiangsu Guomao Reducer Co., Ltd. As of June 30, 2023, Anhui Zhiou Drive Technology Co., Ltd. generated total assets of CNY 15.9 million and net assets of CNY 11.9 million.
Jiangsu Guomao Reducer Co., Ltd. is a China-based company principally engaged in the research and development, production and sales of reducers. The Company's main products are reducers, which includes gear reducers (including modular reducers and high-power reducers) and cycloidal pin wheel reducers. The Company's products are widely used in various fields of national economy such as environmental protection, construction, electricity, chemicals, food, logistics, plastics, rubber, mining, metallurgy, petroleum, cement, shipbuilding, water conservancy, textile, printing and dyeing, feed and pharmaceutical. In addition, The Company also provides accessories and Maintenance modification services. The Company mainly distributes its products in the domestic market.
JIANGSU GUOMAO REDUCER CO., LTD. 
