Qingdao CHOHO Industrial Co., Ltd completed the acquisition of 85% stake in Shanghai Hantong Auto Parts Co., Ltd. from Cai Yunde and Cai Jianping.
July 22, 2022
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Qingdao CHOHO Industrial Co., Ltd (SZSE:003033) entered into an agreement to acquire remaining 85% stake in Shanghai Hantong Auto Parts Co., Ltd. from Cai Yunde and Cai Jianping for CNY 188 million on July 1, 2022. Cai Yunde transferred his 51% equity in the target company (corresponding to the subscribed capital contribution of CNY 6.3 million) to Zhenghe Industry at a price of CNY 112.8 million; Cai Jianping transferred his holdings in the target company 34% (corresponding to the subscribed capital contribution of CNY 4.2 million) was transferred to Zhenghe Industry at a price of CNY 75.2 million. As of March 2022, Total assets were CNY 104.3683 million and Net assets were CNY 83.3307 million.
Qingdao CHOHO Industrial Co., Ltd (SZSE:003033) completed the acquisition of 85% stake in Shanghai Hantong Auto Parts Co., Ltd. from Cai Yunde and Cai Jianping on July 23, 2022.
Qingdao CHOHO Industrial Co Ltd is a China-based company principally engaged in the research and development, manufacturing and sales of various chain drive systems. The Company's main products include vehicle chain systems, agricultural machinery chain systems and industrial equipment chain systems. Its vehicle chain systems include motorcycle chain systems and automobile chain systems. The Company's products are applied in motorcycle, automobile, ship, agricultural machinery, construction machinery, lifting and transportation machinery, logistics and storage, escalator, food and drug machinery, light industrial machinery, petrochemical and other fields. The Company distributes its products in domestic market and to overseas markets.
QINGDAO CHOHO INDUSTRIAL CO.,LTD. 
