Hangzhou Boiler Group Co., Ltd. cancelled the acquisition of additional 7.6% stake in Zhejiang Xizi United Engineering Co., Ltd. from Hangzhou Yueji Energy Saving Technology Co., Ltd.
April 23, 2019
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Hangzhou Boiler Group Co., Ltd. (SZSE:002534) agreed to acquire additional 7.6% stake in Zhejiang Xizi United Engineering Co., Ltd. from Hangzhou Yueji Energy Saving Technology Co., Ltd. for CNY 13.3 million on April 24, 2018. Prior to the deal, Zhejiang Xizi United is a subsidiary of Hangzhou Boiler Group. In a related transaction, Liu Huiming and He Shimin will acquire another 4% stake in Zhejiang Xizi United Engineering Co., Ltd. on April 24, 2018. Zhejiang Xizi United reported total assets of CNY 537.78 million and net assets of CNY 174.2 million for the year ending December 31, 2017.
Hangzhou Boiler Group Co., Ltd. (SZSE:002534) cancelled the acquisition of additional 7.6% stake in Zhejiang Xizi United Engineering Co., Ltd. from Hangzhou Yueji Energy Saving Technology Co., Ltd. on April 24, 2019.
Xizi Clean Energy Equipment Manufacturing Co Ltd, formerly Hangzhou Boiler Group Co Ltd, is a China-based company mainly engaged in consulting, research and development, production, sales, installation and general contracting of waste heat boilers, clean and environmentally friendly energy power generation equipment and other products. The Company provides customers with energy-saving and environmental protection equipment and overall solutions for energy utilization. The Company's main products include industrial boilers, waste heat boilers, power station boilers, components and power station auxiliary equipment. The Company is also involved in trading service business. The Company distributes its products in the domestic market and to overseas markets.
Hangzhou Boiler Group Co., Ltd. cancelled the acquisition of additional 7.6% stake in Zhejiang Xizi United Engineering Co., Ltd. from Hangzhou Yueji Energy Saving Technology Co., Ltd.
XIZI CLEAN ENERGY EQUIPMENT MANUFACTURING CO., LTD. 
