Nanjing Ningbei Rail Transit Co., Ltd. cancelled the acquisition of remaining 83.13% stake in Nanjing Ninghe Rail Transit Co., Ltd. from NARI Technology Co., Ltd., China Railway Erju Engineering Co., Ltd., China Railway Erju Group Electric Engineering Co., Ltd. and NARI Group Corporation.
October 29, 2019
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Nanjing Ningbei Rail Transit Co., Ltd. signed an agreement to acquire remaining 83.13% stake in Nanjing Ninghe Rail Transit Co., Ltd. from NARI Technology Co., Ltd. (SHSE:600406), China Railway Erju Engineering Co., Ltd., China Railway Erju Group Electric Engineering Co., Ltd. and NARI Group Corporation for CNY 1.5 billion on October 30, 2018. After the deal, Nanjing Ningbei Rail Transit will own 100% stake in Nanjing Ninghe Rail Transit. This has been approved in the 28th Meeting of NARI Technology's 6th Directorate, and does not need the shareholders’ approval.
Nanjing Ningbei Rail Transit Co., Ltd. cancelled the acquisition of remaining 83.13% stake in Nanjing Ninghe Rail Transit Co., Ltd. from NARI Technology Co., Ltd. (SHSE:600406), China Railway Erju Engineering Co., Ltd., China Railway Erju Group Electric Engineering Co., Ltd. and NARI Group Corporation on October 30, 2019.
Nari Technology Development Limited Company specializes in designing, manufacturing and marketing industrial automation solutions and systems. The group's activity is organized around six families of products:
- software solutions and integrated systems of electric distribution network automation;
- automation systems of substations and electric terminals;
- automated systems of electricity distribution management;
- measurement and control systems of energy consumption;
- control and command systems of electric power generators;
- control systems of railway infrastructures.
China accounts for 98.3% of net sales.
Nanjing Ningbei Rail Transit Co., Ltd. cancelled the acquisition of remaining 83.13% stake in Nanjing Ninghe Rail Transit Co., Ltd. from NARI Technology Co., Ltd., China Railway Erju Engineering Co., Ltd., China Railway Erju Group Electric Engineering Co., Ltd. and NARI Group Corporation.
NARI TECHNOLOGY CO., LTD. 
