Ningbo Huaxiang Electronic Co., Ltd. completed the acquisition of the remaining 50% in Yangzhou Antolin Huaxiang Auto Parts Co., Ltd. from Grupo Antolín Irausa, S.A.
September 26, 2016
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Ningbo Huaxiang Electronic Co., Ltd. (SZSE:002048) agreed to acquire remaining 50% in Yangzhou Antolin Huaxiang Auto Parts Co., Ltd. from Grupo Antolín Irausa, S.A. for CNY 46 million on June 16, 2016. In a related transaction, Ningbo Huaxiang Electronic Co., Ltd. agreed to acquire remaining 50% in Ningbo Antolin Huaxiang Auto Parts Co., Ltd. from Grupo Antolin Irausa, S.A for approximately CNY 120 million. For the year ended December 31, 2015, Yangzhou Antolin Huaxiang Auto Parts Co., Ltd. reported total assets of CNY 288.5 million, net assets of CNY 123.6 million, revenue of CNY 374.8 million and net profit of CNY 28.7 million. The transaction is approved by board of directors of Ningbo Huaxiang Electronic Co., Ltd. and is subject to the shareholders’ approval.
Ningbo Huaxiang Electronic Co., Ltd. (SZSE:002048) completed the acquisition of the remaining 50% in Yangzhou Antolin Huaxiang Auto Parts Co., Ltd. from Grupo Antolín Irausa, S.A. on September 27, 2016.
Ningbo Huaxiang Electronic Co., Ltd. is a China-based company, principally engaged in the design, development, manufacture and distribution of automobile components. The Company's main products consist of interior and exterior trims, including instrument panels, center channel assemblies, front and rear windshields, spoilers, roofs, bellows; automotive chassis accessories; air-conditioning accessories; automotive engine accessories; automotive electrical and electronic accessories; metal stampings and others. The main supporting models of its products include BMW 3, 5 and X series; Mercedes-Benz C-Class and E Class series, and Tiguan, New Passat, New Sunny, Audi Q5, Audi A6L, Sagitar, Golf A7, Skoda, Roewe, Crown, Reiz, Corolla, Teana and others. The Company distributes its products within domestic market and to overseas markets.
Ningbo Huaxiang Electronic Co., Ltd. completed the acquisition of the remaining 50% in Yangzhou Antolin Huaxiang Auto Parts Co., Ltd. from Grupo Antolín Irausa, S.A.
NINGBO HUAXIANG ELECTRONIC CO., LTD. 
