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    603985   CNE100002XL0

JIANGYIN HENGRUN HEAVY INDUSTRIES CO., LTD

(603985)
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Jining City Urban Construction Investment Co., Ltd signed the share transfer agreement to acquire 6% stake in Jiangyin Hengrun Heavy Industries Co., Ltd from Chenglixin for approximately CNY 480 million.

01/27/2021 EST

Jining City Urban Construction Investment Co., Ltd signed the share transfer agreement to acquire 6% stake in Jiangyin Hengrun Heavy Industries Co., Ltd (SHSE:603985) from Chenglixin for approximately CNY 480 million on January 26, 2021. Jining City Urban Construction Investment Co., Ltd signed a supplement agreement to acquire 7% stake in Jiangyin Hengrun Heavy Industries Co., Ltd (SHSE:603985) from Chenglixin for approximately CNY 470 million on February 4, 2021. As per terms, Jining City Urban Construction Investment Co., Ltd will acquire 12.23 million shares at CNY 39.35 per share. As per revised terms, Jining City Urban Construction Investment Co., Ltd will acquire 14.27 million shares at CNY 32.79 per shareAs per terms of the consideration, CNY 144.38 million (30%) shall be paid within three working days from the agreement and remaining CNY 336.89 million (70%) shall be paid within 30 working days of the agreement. Upon completion, Chenglixin reduced its stake to 61.15 million shares representing 30%.


ę S&P Capital IQ 2021
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Financials
Sales 2021 2 450 M 386 M 386 M
Net income 2021 470 M 74,1 M 74,1 M
Net Debt 2021 - - -
P/E ratio 2021 28,4x
Yield 2021 -
Capitalization 13 389 M 2 111 M 2 112 M
Capi. / Sales 2021 5,46x
Capi. / Sales 2022 4,33x
Nbr of Employees 1 146
Free-Float 59,1%
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Mean consensus OUTPERFORM
Number of Analysts 1
Last Close Price 39,48 
Average target price
Spread / Average Target -
EPS Revisions
Managers and Directors
Li Xin Cheng Chairman & General Manager
Xue Jian Gu Chief Financial Officer & Board Secretary
Zhong Xie Chen Chairman-Supervisory Board
Xiao Dong Lu Independent Director
Ru Yu Qiu Independent Director
Sector and Competitors