Qingdao Victall Railway Co., Ltd. signed the Equity Transfer Agreement to acquire the remaining 5% stake in Chengdu Changtong Hongyuan Technology Co., Ltd. from Qingdao Jinfengheng Equity Investment Enterprise (Limited Partnership) for approximately CNY 190 million.
June 31, 2022
Share
Qingdao Victall Railway Co., Ltd. (SHSE:605001) signed the Equity Transfer Agreement to acquire the remaining 5% stake in Chengdu Changtong Hongyuan Technology Co., Ltd. from Qingdao Jinfengheng Equity Investment Enterprise (Limited Partnership) for approximately CNY 190 million on May 31, 2022. The transaction price is to be paid within 10 working days from the effective date of this agreement. Acquisition will be done by using own fund of Qingdao Victall Railway Co., Ltd. Chengdu Changtong Hongyuan reported total assets of CNY 253.2 million, net assets of CNY 204 million, operating income of CNY 126.9 million and net profit of CNY 47.5 million.
The transaction has been reviewed and approved at the 23rd meeting of the second board of directors of Qingdao Victall Railway Co., Ltd.
Qingdao Victall Railway Co Ltd is a China-based company mainly engaged in the research and development, manufacturing and sales of rail transit vehicle supporting products. The Company's products are primarily divided into five categories. The interior products include roof panels, wall panels, air ducts, vehicle display screens, partitions, roller blinds, bar counters, seats and others. The toilet system includes vacuum toilet system, toilet module, water tank and washroom, among others. The metal structural parts include skirt board fastening devices, hangers, equipment compartment frames, line pipe fixing brackets, equipment welding brackets and others. The modular products include opening and closing mechanisms and shade screens, among others. The exterior structural parts include head shells, pantograph diversion covers, skirt boards and bottom diversion covers. The Company also provides vehicle maintenance services.
Qingdao Victall Railway Co., Ltd. signed the Equity Transfer Agreement to acquire the remaining 5% stake in Chengdu Changtong Hongyuan Technology Co., Ltd. from Qingdao Jinfengheng Equity Investment Enterprise (Limited Partnership) for approximately CNY 190 million.
QINGDAO VICTALL RAILWAY CO., LTD. 
