Teijin Investment Co., Ltd. signed the equity transfer agreement to acquire to acquire 50.6% stake in Cyspin Victall Structural Composite Material Co., Ltd. from Qingdao Victall Railway Co., Ltd. for approximately CNY 310 million.
December 14, 2020
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Teijin (China) Investment Co., Ltd. signed the equity transfer agreement to acquire 50.6% stake in Cyspin Victall (Tangshan) Structural Composite Material Co., Ltd. from Qingdao Victall Railway Co., Ltd. (SHSE:605001) for approximately CNY 310 million on December 14, 2020. As of December 31, 2019, Cyspin Victall (Tangshan) Structural Composite Material Co., Ltd. has total assets of CNY 449.9 million, net assets of CNY 402.2 million, revenue of CNY 59 million and net loss of CNY 27.9 million. As of September 30, 2020, Cyspin Victall (Tangshan) Structural Composite Material Co., Ltd. has total assets of CNY 493.5 million and net assets of CNY 448.5 million. The transaction has been reviewed and approved at the thirteenth meeting of the Qingdao Victall Railway Co., Ltd's second directorate on December 14, 2020 and does not need to be submitted to the shareholders meeting for deliberation.
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.
Teijin Investment Co., Ltd. signed the equity transfer agreement to acquire to acquire 50.6% stake in Cyspin Victall Structural Composite Material Co., Ltd. from Qingdao Victall Railway Co., Ltd. for approximately CNY 310 million.
QINGDAO VICTALL RAILWAY CO., LTD. 
