Shanghai Cooltech Power Co., Ltd. signed an equity transfer agreement to acquire remaining 18.792% stake in Shanghai Jinghong New Energy Technology Co., Ltd. from Shanghai Kaidong Investment Management Office (Limited Partnership), Shanghai Chiji Investment Management Office (Limited Partnership) and Guo Hui for CNY 6.5 billion.
June 07, 2022
Share
Shanghai Cooltech Power Co., Ltd. signed an equity transfer agreement to acquire remaining 18.792% stake in Shanghai Jinghong New Energy Technology Co., Ltd. from Shanghai Kaidong Investment Management Office (Limited Partnership), Shanghai Chiji Investment Management Office (Limited Partnership) and Guo Hui for CNY 6.5 billion on June 6, 2022. Prior to transaction, Shanghai Kaidong Investment owns an 11.832%, Shanghai Chiji Investment owns a 5.071% and Guo Hui owns a 1.889% stake in Shanghai Jinghong. Upon completion, Shanghai Cooltech will wholly own Shanghai Jinghong. The transaction will be funded from own funds. The Shanghai Jinghong had total assets of CNY 71 million and net assets of CNY 48 million, as of March 31, 2022. The eleventh meeting of the fifth board of directors of Shanghai Cooltech reviewed and approved the transaction. The transaction does not need to be submitted to the general meeting of shareholders for deliberation.
SHANGHAI COOLTECH POWER CO.,LTD is a China-based company principally engaged in the development, design, manufacture and distribution of intelligent environmental protection power supply equipment. The Company mainly operates through three segments. Intelligent Environmental Protection Power Supply Equipment segment is mainly involved in the development, design, manufacture and sale of intelligent protection power supply equipment, as well as provides pre-sales and after-sale services, such as technology consulting, training, installation and maintenance. New Energy Vehicle segment provides lithium-ion power battery systems for the manufactures of whole vehicles. Energy Saving and Environmental Protection segment primarily provides environmentally friendly low-noise diesel generator sets. The Company distributes its products in East China and South China, as well as Asia market.
Shanghai Cooltech Power Co., Ltd. signed an equity transfer agreement to acquire remaining 18.792% stake in Shanghai Jinghong New Energy Technology Co., Ltd. from Shanghai Kaidong Investment Management Office (Limited Partnership), Shanghai Chiji Investment Management Office (Limited Partnership) and Guo Hui for CNY 6.5 billion.
SHANGHAI COOLTECH POWER CO., LTD. 
