Shenzhen Gas Corporation Ltd. completed the acquisition of 50% stake in Jiangsu Siweike New Material Co., Ltd. from Risen Energy Co.,Ltd..
September 02, 2021
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Shenzhen Gas Corporation Ltd. (SHSE:601139) agreed to acquire 50% stake in Jiangsu Siweike New Material Co., Ltd. from Risen Energy Co.,Ltd. (SZSE:300118) for CNY 1.8 billion on August 2, 2021. Shenzhen Gas Corporation Ltd. shall acquire 140,423,077 shares of Jiangsu Siweike New Material equivalent to 50% stake, from Risen Energy Co., Ltd. holding 194 million shares equivalent to 69.08% stake. On April 30, 2021, total asset and net asset of Jiangsu Siweike New Material Co., Ltd. was CNY 2.42 billion and CNY 1.54 billion respectively. The transaction has been approved in the 29th Extraordinary Meeting of 4th Directorate of Shenzhen Gas Corporation Ltd. held on August 2, 2021, and is subject to Shenzhen Gas and Risen Energy shareholders' approval. As of August 18, 2021, the shareholders of Shenzhen Gas Corporation approved the transaction.
Shenzhen Gas Corporation Ltd. (SHSE:601139) completed the acquisition of 50% stake in Jiangsu Siweike New Material Co., Ltd. from Risen Energy Co.,Ltd. (SZSE:300118) on September 3, 2021.
RISEN ENERGY CO.,LTD. is a China-based company principally engaged in the research, development, manufacture and distribution of solar energy application products. The Company's main products include solar cell slices, solar cell modules, solar lamps, photovoltaic new materials, photovoltaic power stations, light-emitting diodes (LED) lamps and ethylene-vinyl acetate copolymer (EVA) film, among others. The Company also provides new energy financial services. The Company distributes its products in domestic market and to overseas markets.
RISEN ENERGY CO.,LTD. 
