Shanghai Huaxiang Tuoxin Electronic Co., Ltd. entered into an agreement to acquire Shanghai Dazhong Lianxiang Automotive Parts Co., Ltd. from Ningbo Huaxiang Electronic Co., Ltd. for CNY 28.6 million.
October 24, 2017
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Shanghai Huaxiang Tuoxin Electronic Co., Ltd. entered into an agreement to acquire Shanghai Dazhong Lianxiang Automotive Parts Co., Ltd. from Ningbo Huaxiang Electronic Co., Ltd. (SZSE:002048) for CNY 28.6 million on October 24, 2017. For the year ended December 31, 2016, Shanghai Dazhong Lianxiang Automotive Parts Co., Ltd. reported total assets of CNY 66.3 million, net assets of CNY 61.9 million, revenue of CNY 10.5 million, and net profit of CNY 1.7 million. The transaction has been approved by the 6th session of the 6th directorate meeting of Ningbo Huaxiang Electronic Co., Ltd.
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.
Shanghai Huaxiang Tuoxin Electronic Co., Ltd. entered into an agreement to acquire Shanghai Dazhong Lianxiang Automotive Parts Co., Ltd. from Ningbo Huaxiang Electronic Co., Ltd. for CNY 28.6 million.
NINGBO HUAXIANG ELECTRONIC CO., LTD. 
