Wuxi Huaguang Environment & Energy Group Co., Ltd. completed the acquisition of 58.25% stake in CMEC Guolian Wuxi New Energy Development Co., Ltd. from Wuxi Guolian Industry Investment Group Co., Ltd.
December 30, 2021
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Wuxi Huaguang Environment & Energy Group Co., Ltd. (SHSE:600475) signed the equity purchase agreement to acquire a 58.25% stake in CMEC Guolian Wuxi New Energy Development Co., Ltd. from Wuxi Guolian Industry Investment Group Co., Ltd. for CNY 300 million on December 27, 2021. The consideration will be paid in cash. The total assets, net assets, operating income and net profit of CMEC Guolian Wuxi were CNY 2004.09 million, CNY 853.89 million, CNY 192.92 million and CNY 59.32 million, respectively, for the period ended September 30, 2021. The transaction was approved by the board of director and supervisors of Wuxi Huaguang Environment. The transaction has been approved by the Wuxi State-owned Assets Supervision and Administration Commission.
Wuxi Huaguang Environment & Energy Group Co., Ltd. (SHSE:600475) completed the acquisition of 58.25% stake in CMEC Guolian Wuxi New Energy Development Co., Ltd. from Wuxi Guolian Industry Investment Group Co., Ltd. on December 31, 2021.
Wuxi Huaguang Environment & Energy Group Co Ltd, formerly Wuxi Huaguang Boiler Co Ltd, is a company that mainly provides energy environmental protection related equipment and services. The Company operates five segments. The Energy Efficient Power Generation and Environmental Protection Equipment Manufacturing segment is engaged in the design, production and installation of related equipment, including waste incineration boilers and biomass boilers. The Power Plant and Environmental Engineering and Services segment provides general contracting services for the thermal power plant project and photovoltaic power plant project. The Municipal Environmental Protection Engineering and Services segment involves solid waste disposal projects and services. The Local Thermal Power Operation Service segment provides electricity and heating. The Environmental Protection Operation Service segment invests and constructs solid waste disposal projects.
Wuxi Huaguang Environment & Energy Group Co., Ltd. completed the acquisition of 58.25% stake in CMEC Guolian Wuxi New Energy Development Co., Ltd. from Wuxi Guolian Industry Investment Group Co., Ltd.