Zhejiang Chunhui Intelligent Control Co., Ltd. agreed to acquire 35.56% stake in Zhejiang Chunhui Instrumentation Co.,Ltd from Yang Guangyu, Yang Yanrong and Yan Chenguang for CNY 51.4 million.
November 14, 2021
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Zhejiang Chunhui Intelligent Control Co., Ltd. (SZSE:300943) agreed to acquire 35.56% stake in Zhejiang Chunhui Instrumentation Co.,Ltd from Yang Guangyu, Yang Yanrong and Yan Chenguang for CNY 51.4 million on November 15, 2021. The transfer price will be paid in installments. Within 10 days after the agreement becomes effective, will pay 40% of the price and Within 10 days after the completion of transfer, will pay the remaining balance. Under the terms Zhejiang Chunhui Intelligent Control Co., Ltd. will acquire 6,541,119 shares, 2,625,042 shares and 6,457,105 shares from Yang Guangyu, Yang Yanrong and Yan Chenguang respectively for CNY 3.29 per share. After, Zhejiang Chunhui Intelligent Control Co., Ltd. will own 39.56% stake in Chunhui Instrumentation. On November 15, 2021, the 4th session of Zhejiang Chunhui Intelligent Control Co., Ltd. 8th directorate approved the transaction.
Zhejiang Chunhui Intelligent Control Co Ltd is a China-based company mainly engaged in the research, development and manufacturing of fluid control valves and control systems. The Company's products include oil and gas control products, gas control products, heating control products, air conditioning control products and internal combustion engine accessories, such as dual-flow solenoid valves, shut-off valves, oil and gas recovery control systems, gas pressure regulators, hot water supply control valves , two-way thermal expansion valve and camshaft, etc. Its products are used in fuel dispensers, natural gas dispensers, natural gas pipeline networks, gas wall-mounted heating stoves, household air conditioners, automobile air conditioners, heat pump water heaters and diesel engines. The Company conducts its businesses within the China market and to overseas markets such as the United States, Germany and Turkey.
Zhejiang Chunhui Intelligent Control Co., Ltd. agreed to acquire 35.56% stake in Zhejiang Chunhui Instrumentation Co.,Ltd from Yang Guangyu, Yang Yanrong and Yan Chenguang for CNY 51.4 million.
ZHEJIANG CHUNHUI INTELLIGENT CONTROL CO., LTD. 
