Jiangsu Sunrain Solar Energy Co.,Ltd cancelled the acquisition of an additional 15% stake in Zhejiang Sacon Electric Co., Ltd. from China Shuaikang Group Co. Ltd.
January 11, 2019
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Jiangsu Sunrain Solar Energy Co.,Ltd (SHSE:603366) signed share transfer agreement to acquire an additional 15% stake in Zhejiang Sacon Electric Co., Ltd. from China Shuaikang Group Co. Ltd. for approximately CNY 160 million on January 12, 2018. Consideration will be paid by the use of remaining raised funds. The transaction is subject to the shareholders’ approval. On January 12, 2018, transaction has been approved by the Board of Jiangsu Sunrain Solar Energy Co.,Ltd. As on January 29, 2018, transaction has been approved by the shareholders of Jiangsu Sunrain Solar Energy Co.,Ltd.
Jiangsu Sunrain Solar Energy Co.,Ltd (SHSE:603366) cancelled the acquisition of an additional 15% stake in Zhejiang Sacon Electric Co., Ltd. from China Shuaikang Group Co. Ltd. on January 12, 2019.
Solareast Holdings Co., Ltd., formerly Jiangsu Sunrain Solar Energy Co., Ltd, is a China-based company, principally engaged in the research and development, manufacture and sales of solar stand-alone water heaters. The Company is also engaged in the research and development, manufacture and sales of solar hot water engineering systems, air energy water heaters and water purifiers. The Company distributes its products within domestic market and to overseas markets.
Jiangsu Sunrain Solar Energy Co.,Ltd cancelled the acquisition of an additional 15% stake in Zhejiang Sacon Electric Co., Ltd. from China Shuaikang Group Co. Ltd.
SOLAREAST HOLDINGS CO., LTD. 
