Sichuan Haowu Electromechanical Co., Ltd. agreed to acquire 50% stake in Tianjin Yihang Financial Leasing Co., Ltd. from SOUCHE LIMITED for $15 million.
December 30, 2020
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Sichuan Haowu Electromechanical Co., Ltd. (SZSE:000757) agreed to acquire 50% stake in Tianjin Yihang Financial Leasing Co., Ltd. from SOUCHE LIMITED for $15 million on November 30, 2020. After completion of the present transaction Sichuan Haowu Electromechanical Co., Ltd and SOUCHE LIMITED will both hold a 50% stake in Tianjin Yihang Financial Leasing Co., Ltd. As of December 31, 2019, Tianjin Yihang Financial Leasing Co., Ltd. recorded total assets of CNY 0.019 million, net loss of CNY 0.0005 million, operating loss of CNY 0.0005 million and net loss of CNY 0.0005 million. As of November 30, 2020, Board of Directors of Sichuan Haowu Electromechanical Co., Ltd. (SZSE:000757) approved the deal.
Sichuan Haowu Electromechanical Co Ltd is a China-based company mainly engaged in vehicle sales, automotive aftermarket services and machinery parts production. The Company's passenger vehicle distribution and automotive aftermarket service businesses are mainly engaged in vehicle sales, repair and maintenance services, and comprehensive services including automobile fittings, extended warranty agency, insurance agency, and auto loan agency. The internal combustion engine crankshaft business is mainly engaged in the research, development, manufacturing and sales of internal combustion engine crankshafts. The products are mainly applied in passenger cars, commercial vehicles, construction machinery/agricultural machinery, special machinery, etc. The Company mainly conducts business in the domestic market.
SICHUAN HAOWU ELECTROMECHANICAL CO., LTD. 
