Shanghai Jingyou New Energy Co., Ltd. completed the acquisition of 11.45% stake in Kehua Holdings Co.,Ltd from Hongmin and Chen Xiaoke.
September 24, 2023
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Shanghai Jingyou New Energy Co., Ltd. signed a Share Transfer Agreement to acquire a 11.45% stake in Kehua Holdings Co.,Ltd (SHSE:603161) from Hongmin and Chen Xiaoke for approximately CNY 340 million on August 31, 2023. Under the terms, Shanghai Jingyou New Energy will pay CNY 68.7 million within 7 working days of the agreement effective date, CNY 103.1 million within 5 working after the Shanghai Stock Exchange reviews the transfer and receives a confirmation document from the Shanghai Stock Exchange, CNY 137.4 million within 5 working from the transfer completion and the remaining CNY 34.4 million before August 31, 2024. Post completion, Shanghai Jingyou New Energy will hold 11.45% stake, Chen Hongmin will hold 20.56% stake and Chen Xiaoke will hold 2.96% stake in Kehua Holdings.
Shanghai Jingyou New Energy Co., Ltd. completed the acquisition of 11.45% stake in Kehua Holdings Co.,Ltd (SHSE:603161) from Hongmin and Chen Xiaoke on September 25, 2023.
Kehua Holdings Co., Ltd. is a China-based company principally involved in the research, development, manufacture and sales of key components products of turbochargers. The Companyâs main products include turbine shell and its fittings, intermediate shell and its fittings and other mechanical components. The Company distributes its products within domestic market and to overseas markets.