NBTM New Materials Group Co., Ltd. intends to acquire additional 22.40% minority stake in Shanxi TONGMUO Huasheng Powder Metallurgy Co., Ltd. from Ningbo Jinguangtai Equity Investment Partnership Enterprise (Limited Partnership), Zheng Yundong, Liu Ningkai and Yan Zengqiang for CNY 89.6 million.
April 26, 2023
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NBTM New Materials Group Co., Ltd. (SHSE:600114) agreed to acquire additional 22.40% minority stake in Shanxi TONGMUO Huasheng Powder Metallurgy Co., Ltd. from Ningbo Jinguangtai Equity Investment Partnership Enterprise (Limited Partnership), Zheng Yundong, Liu Ningkai and Yan Zengqiang for CNY 89.6 million on April 26, 2023. Transaction is subject to approval from NBTM New Materials Group's shareholders. For the period ended December 31, 2022, Shanxi TONGMUO had CNY 411.4265 million of total assets, CNY 372.8374 million of Operating income, CNY 36.0524 million of net income and CNY 36.0524 of net assets.
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. intends to acquire additional 22.40% minority stake in Shanxi TONGMUO Huasheng Powder Metallurgy Co., Ltd. from Ningbo Jinguangtai Equity Investment Partnership Enterprise (Limited Partnership), Zheng Yundong, Liu Ningkai and Yan Zengqiang for CNY 89.6 million.
NBTM NEW MATERIALS GROUP CO., LTD. 
