NBTM New Materials Group Co., Ltd. completed the acquisition of 3% stake in Deqing Xinchen New Material Co., Ltd. from Ding Xuhong.
July 25, 2022
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NBTM New Materials Group Co., Ltd. (SHSE:600114) agreed to acquire remaining 3% stake in Deqing Xinchen New Material Co., Ltd. from Ding Xuhong for CNY 6.09 million on July 14, 2022. After this transaction, NBTM New Materials Group will hold 100% stake in Deqing Xinchen New Material. The board of NBTM New Materials Group has unanimously approved the transaction and the deal has not required approval of shareholders. Deqing Xinchen New Material has reported total assets of CNY 99.0445 million on March 31, 2022. Deqing Xinchen New Material has reported net profit of CNY 16.4594 million on December 31, 2021.
NBTM New Materials Group Co., Ltd. (SHSE:600114) completed the acquisition of 3% stake in Deqing Xinchen New Material Co., Ltd. from Ding Xuhong on July 26, 2022.
NBTM New Materials Group Co., Ltd. is a China-based company principally engaged in the production and sales of powder metallurgy machinery parts and soft magnetic materials. The Company's powder metallurgy machinery products include automotive parts, motorcycle parts and home appliance parts. The Company's powder metallurgy machinery parts are mainly applied in engines, gearboxes, chassis, compressors of air conditioners and refrigerators and motorcycle clutches. The Companyâs soft magnetic materials include gold powder, iron cores and alloy magnetic powder cores, among others, which are used for electrical equipment and electronic equipment. The Company distributes its products in domestic market and to overseas markets, including the North America, Europe, Japan, Korea and other areas.
NBTM NEW MATERIALS GROUP CO., LTD. 
