Shandong Meichen Ecology & Environment Co.,Ltd. completed the acquisition of 29.1% stake in Weifang Huayi Agricultural Technology Co., Ltd from Meihua Wangxin Equity Investment Fund Partnership Enterprise (L.P.) managed by Shandong Zhongwang Yinxin Investment Management Co., Ltd.
May 19, 2021
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Shandong Meichen Ecology & Environment Co.,Ltd. (SZSE:300237) agreed to acquire 29.1% stake in Weifang Huayi Agricultural Technology Co., Ltd from Meihua Wangxin (Weifang) Equity Investment Fund Partnership Enterprise (L.P.) managed by Shandong Zhongwang Yinxin Investment Management Co., Ltd. for CNY 40.4 million on January 22, 2021. Shandong Meichen Ecology & Environment Co.,Ltd. will use its own funds for the acquisition. After the transaction Weifang Huayi Agricultural Technology Co., Ltd will own 48.03% stake in Huayi Agricultural. Shandong Meichen Ecology & Environment Co.,Ltd. must pay the transfer price within 10 days after the completion of the registration modification. In 2020 Weifang Huayi Agricultural Technology Co., Ltd has total assets of CNY 71.6 million, net assets of CNY 37.3 million, revenue of CNY 7.4 million and net loss of CNY 7.1 million. Transaction was approved by the 28th session of the Weifang Huayi Agricultural Technology Co., Ltd 4th directorate.
Shandong Meichen Ecology & Environment Co.,Ltd. (SZSE:300237) completed the acquisition of 29.1% stake in Weifang Huayi Agricultural Technology Co., Ltd from Meihua Wangxin (Weifang) Equity Investment Fund Partnership Enterprise (L.P.) managed by Shandong Zhongwang Yinxin Investment Management Co., Ltd on May 20, 2021.
Shandong Meichen Ecology & Environment Co., Ltd., formerly Shandong Meichen Science & Technology Co., Ltd., is principally engaged in the research, development, production and sale of rubber products applied as automobile components. The Companyâs products consist of rubber distance rods, air springs, chair air springs, chassis air springs, power assembly suspensions, radiator and exhaust pipe suspensions, rubber supports, beams, fender supports, cab supports, air suspensions, rubber suspensions, turbo charger air pipes, intercooler in and out pipes, filter air pipes, engine cooling water pipes, braking soft tubes, engineering machinery tubes, as well as engineering plastic products, among others. The Company distributes its product within domestic market and to overseas markets.
SHANDONG MEICHEN SCIENCE & TECHNOLOGY CO.,LTD.