Moon Environment Technology Co., Ltd. cancelled the acquisition of 60% stake in Yantai Moon Pressure Vessel Co., Ltd. from Yantai Moon Group Co., Ltd.
October 10, 2018
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Moon Environment Technology Co., Ltd. (SZSE:000811) signed the equity transfer agreement to acquire a 60% stake in Yantai Moon Pressure Vessel Co., Ltd. from Yantai Moon Group Co., Ltd. for CNY 23.7 million on October 11, 2017. Post completion of the transaction, Moon Environment Technology Co., Ltd. will hold 60% stake whereas Yantai Moon Group Co., Ltd. will cease to hold any stake in Yantai Moon Pressure Vessel Co., Ltd. In a related transaction, Moon Environment Technology Co., Ltd. signed the equity transfer agreement to acquire a 29.89% stake in Yantai Moon Casting Co., Ltd. from Yantai Moon Group Co., Ltd. for CNY 35 million. For the year ended December 31, 2016, Yantai Moon Pressure Vessel Co., Ltd. had total assets of CNY 35.08 million, net assets of CNY 18.24 million, operating revenue of CNY 41.50 million and net profit of CNY 1.54 million. The transaction was approved by the Board of Directors of Moon Environment Technology Co., Ltd. on October 11, 2017.
Moon Environment Technology Co., Ltd. (SZSE:000811) cancelled the acquisition of 60% stake in Yantai Moon Pressure Vessel Co., Ltd. from Yantai Moon Group Co., Ltd. on October 11, 2018.
Moon Environment Technology Co., Ltd., formerly YANTAI MOON CO., LTD., is a China-based company principally engaged in the provision of system solutions for the field of temperature control. The Company's main business includes the manufacturing and sales of cryogenic refrigeration equipment, central air conditioning equipment, environmental heating equipment, as well as the provision of application systems integration and engineering services. Its products and services are widely used in food cold chain, logistics, petrochemical, pharmaceutical, energy, rail transportation and other industries. The Company's products are distributed to domestic and overseas markets.
MOON ENVIRONMENT TECHNOLOGY CO.,LTD. 
