Nantong Yida Enterprise Management Consulting Co., Ltd. signed the share transfer agreement to acquire additional 12.30% stake in Jiangsu Tongda Power Technology Co.,Ltd. (SZSE : 002576) from Tianjin Xinda Ruiming Enterprise Management Advisory Center (Limited Partnership) for approximately CNY 170 million.
May 12, 2022
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Nantong Yida Enterprise Management Consulting Co., Ltd. signed the share transfer agreement to acquire additional 12.30% stake in Jiangsu Tongda Power Technology Co.,Ltd. (SZSE : 002576) from Tianjin Xinda Ruiming Enterprise Management Advisory Center (Limited Partnership) for approximately CNY 170 million on May 10, 2022. Nantong Yida Enterprise Management will pay CNY 8.33 per share for 20,310,000 shares, representing approximately 12.30% stake in Jiangsu Tongda Power Technology. Prior to completion, Nantong Yida Enterprise Management holds a 15.65% stake in Jiangsu Tongda Power Technology and upon completion its shareholding will increase to approximately 27.95%. Prior to the transaction, Tianjin Xinda Ruiming Enterprise holds a 14.62% stake in Jiangsu Tongda Power Technology and after disposal its shareholding will decrease to approximately 2.32%. As of May 10, 2022, Nantong Yida Enterprise Management's shareholders and Tianjin Xinda Ruiming Enterprise partners approved the transaction.
Jiangsu Tongda Power Technology Co.,Ltd. is a China-based company principally engaged in the research, development, manufacture and sale of small and medium-sized motors, generators and fixed-rotor iron cores, as well as the provision of related services. The Company's small and medium-sized motor used in machinery, steel, electricity, chemicals, cement, paper, metallurgy, petrochemical industries, as well as infrastructure projects. The Company's small and medium-sized generators are mainly used in wind power generators, fuel generators, hydroelectric generators, mobile power generators and other power generation equipment. The Company distributes its products mainly in domestic market, with East China as its main market.
Nantong Yida Enterprise Management Consulting Co., Ltd. signed the share transfer agreement to acquire additional 12.30% stake in Jiangsu Tongda Power Technology Co.,Ltd. (SZSE : 002576) from Tianjin Xinda Ruiming Enterprise Management Advisory Center (Limited Partnership) for approximately CNY 170 million.
JIANGSU TONGDA POWER TECHNOLOGY CO.,LTD. 
