Jiangsu Runyu Venture Capital entered into an agreement to acquire 90.2147% stake in Suining Baoyuan New Energy Co., Ltd. from Xiongan Kerong Environment Technology Co., Ltd. for approximately 210 million.
August 31, 2020
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Jiangsu Runyu Venture Capital entered into an agreement to acquire 90.2147% stake in Suining Baoyuan New Energy Co., Ltd. from Xiongan Kerong Environment Technology Co., Ltd. (SZSE:300152) for approximately 210 million on July 31, 2020. Under the terms, Xiongan Kerong has shareholder loan of CNY 81.5 million in Suining Baoyuan . Suining Baoyuan reported total assets CNY 470.9 million, net assets of CNY 134.7 million, revenue of CNY 19.6 million and net profit of CNY 4.4 million for the year ended December 31, 2019. The transaction has been approved by the Board of Xiongan Kerong Environment in the 31st session.
Xiong an New Power Technology Co Ltd, formerly Xiongan Kerong Environment Technology Co Ltd, is a China-based company mainly engaged in energy-saving combustion related businesses. The Company is mainly engaged in technology research and development, engineering design, product manufacturing, equipment set, engineering management, technical services and combustion experiments in the field of energy-saving combustion. The Company's main products are energy-saving combustion ignition equipment and combustion control system applications, including ignition oil gun devices, double-strength micro-oil ignition systems, plasma oil-free ignition systems, flue burners, pulverized coal boiler low-nitrogen burners, oil and gas boiler low-nitrogen burners, heating furnace ultra-low nitrogen burners, industrial boiler ultra-low nitrogen burners, combustion control systems, oxygen-enriched burners, and others.
Jiangsu Runyu Venture Capital entered into an agreement to acquire 90.2147% stake in Suining Baoyuan New Energy Co., Ltd. from Xiongan Kerong Environment Technology Co., Ltd. for approximately 210 million.