Zhejiang Geely New Energy Commercial Vehicle Group Co., Ltd. completed the acquisition of 5% stake in Zhe Jiang Kangsheng Co.,Ltd. from Chongqing Tuoyang Investment Co., Ltd.
September 13, 2021
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Zhejiang Geely New Energy Commercial Vehicle Group Co., Ltd. signed share purchase agreement to acquire 5% stake in Zhe Jiang Kangsheng Co.,Ltd. (SZSE:002418) from Chongqing Tuoyang Investment Co., Ltd for approximately CNY 200 million on July 26, 2021. In the acquisition, Zhejiang Geely New Energy Commercial Vehicle Group Co., Ltd. will acquire 56.82 million shares at a price of CNY 3.573 per share. Zhejiang Geely New Energy Commercial Vehicle Group Co., Ltd. shall pay 50% of the share transfer price, namely CNY 101.5 milllion to the receiving account designated by Chongqing Tuoyang Investment Co., Ltd within 30 working days from the effective date of the agreement. The receiving account designated by Zhejiang Geely New Energy Commercial Vehicle Group Co., Ltd. pays the remaining 50% of the share transfer price, which is RMB 101.5 million. The transaction is subjected to approval from regulatory board.
Zhejiang Geely New Energy Commercial Vehicle Group Co., Ltd. completed the acquisition of 5% stake in Zhe Jiang Kangsheng Co.,Ltd. (SZSE:002418) from Chongqing Tuoyang Investment Co., Ltd on September 14, 2021. As of September 14, 2021, China Securities Depository and Clearing Co., Ltd approved the transaction.
ZHE JIANG KANGSHENG CO., LTD. is a China-based company, principally engaged in the manufacture and distribution of air cooling and refrigeration pipes, as well as related products. The Company operates its businesses through three segments. The Cooling Parts segment mainly provides cooling pipes, steel fittings, refrigeration tubes, aluminum accessories, refrigeration brass, copper and aluminum parts. The New Energy Automotive Parts segment is engaged in the research and development, manufacture and distribution of electrical, electrical control and electrical air conditioning products. The Finance Leasing segment is engaged in finance leasing business, and related consulting, guarantee and business factoring businesses. The Company conducts its businesses within domestic and overseas markets.
Zhejiang Geely New Energy Commercial Vehicle Group Co., Ltd. completed the acquisition of 5% stake in Zhe Jiang Kangsheng Co.,Ltd. from Chongqing Tuoyang Investment Co., Ltd.
ZHE JIANG KANGSHENG CO.,LTD. 
