Shenzhen Hopewind Electric Co., Ltd. completed the acquisition of Morning Star Industrial Company Limited from Morning Star Development.
January 08, 2023
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Shenzhen Hopewind Electric Co., Ltd. (SHSE:603063) agreed to acquire Morning Star Industrial (Heyuan) Company Limited from Morning Star Development for CNY 214 million on September 21, 2022. The transaction was approved by the fourth interim board meeting of Shenzhen Hopewind Electric Co., Ltd. (SHSE:603063). For the year ended July 31, 2022, Morning Star Industrial (Heyuan) Company Limited Total assets is CNY 82 million and Net assets is CNY 81 million. As of November 28, 2022, the company has paid CNY 21.4 million for the equity transfer.
As on November 29, 2022, Shenzhen Hopewind Electric Co., Ltd. (SHSE:603063) Signed the Supplementary Agreement to the Equity Transfer Agreement, were Shenzhen Hopewind Electric Co., Ltd. will pay the second equity transfer payment to Morning Star Development Co., Ltd. accounts for 60% of the total transaction consideration, that is,CNY 128.4 million.
Shenzhen Hopewind Electric Co., Ltd. (SHSE:603063) completed the acquisition of Morning Star Industrial (Heyuan) Company Limited from Morning Star Development on January 9, 2023.
Shenzhen Hopewind Electric Co., Ltd. is a China-based company principally engaged in the research and development, manufacturing and sales of electrical equipment. The Company's main products include wind power generation products, photovoltaic power generation products, intelligent operation and maintenance products and electrical drive products, such as wind power converters, photovoltaic inverters, electrical modules and other components. The Company mainly operates its business in the domestic market.
SHENZHEN HOPEWIND ELECTRIC CO., LTD. 
