Shenyang Machine Tool Co., Ltd. (SZSE:000410) agreed to acquire 78.45% stake in Tianjin Tianduan Press Co., Ltd. from Genertec Machine Tool Co., Ltd. for CNY 860 million on October 20, 2023. Shenyang Machine Tool Co., Ltd. (company) will issue 120.47 million shares. This has been approved by the company?s 10th directorate during its third meeting.

As of August 31, 2023, Tianjin Tianduan Press Co., Ltd reported total assets of CNY 2.1 billion, and net assets of CNY 590 million. The company?s controlling shareholder has in principle approved this transaction. The transaction is subject to approval from, Internal approval by the internal counterparties, approval of the final plan by the company?s board of directors, State-owned asset supervisory authorities, shareholders?

meeting, Shenzhen Stock Exchange and China Securities Regulatory Commission, any other approvals as may be required by the law.