Zhejiang Yisheng Construction Engineering Co., Ltd. signed a share transfer agreement to acquire 51% stake in Zhejiang Huatie Construction Supporting Technology Co., Ltd. from Zhejiang Huatie Emergency Equipment Science & Technology Co.,Ltd. for approximately CNY 130 million.
May 18, 2021
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Zhejiang Yisheng Construction Engineering Co., Ltd. signed a share transfer agreement to acquire 51% stake in Zhejiang Huatie Construction Supporting Technology Co., Ltd. from Zhejiang Huatie Emergency Equipment Science & Technology Co.,Ltd. (SHSE:603300) for approximately CNY 130 million on May 18, 2021. Within 1 month from the agreement effective date, Zhejiang Yisheng Construction Engineering Co., Ltd. will pay CNY 63.2 million. Within 6 months from the transfer completion date, Zhejiang Yisheng Construction Engineering Co., Ltd. will pay CNY 63.2 million. Zhejiang Huatie Construction Supporting Technology Co., Ltd. reported total assets of CNY 248.4 million and total common equity of CNY 248 million. The transaction has been approved in the 7th Meeting of the Company’s 4th Directorate and does not need the shareholders’ Approval.
Zhejiang Huatie Emergency Equipment Science & Technology Co., Ltd, formerly Zhejiang Huatie Construction Safety Science And Technology Co., Ltd., is a China-based company principally engaged in the rental of safety gear and equipment for the construction industry. The Company's rented supporting equipment includes steel support series products, bailey series products and scaffold series products, among others. Its supporting equipment is applied in the construction of projects like urban mass transit, traffic bridges and civil architecture, among others. The Company conducts its businesses within domestic market.
Zhejiang Yisheng Construction Engineering Co., Ltd. signed a share transfer agreement to acquire 51% stake in Zhejiang Huatie Construction Supporting Technology Co., Ltd. from Zhejiang Huatie Emergency Equipment Science & Technology Co.,Ltd. for approximately CNY 130 million.