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    300587   CNE100002F77

ZHEJIANG TIANTIE INDUSTRY CO., LTD.

(300587)
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Zhejiang Tiantie Industry Co., Ltd. intends to sign an Equity Transfer Agreement to acquire remaining 40% stake in Jiangsu Changjili New Energy Technology Co., Ltd. from Jiang Guoqun and Jiang Jie for approximately CNY 230 million on April 14, 2021.

04/14/2021 EDT

Zhejiang Tiantie Industry Co., Ltd. (SZSE:300587) intends to sign an Equity Transfer Agreement to acquire remaining 40% stake in Jiangsu Changjili New Energy Technology Co., Ltd. from Jiang Guoqun and Jiang Jie for approximately CNY 230 million on April 14, 2021. Under the terms of transaction, Zhejiang Tiantie Industry will acquire 7.2 million and 4.8 million shares representing 24% and 16% stake in Jiangsu Changjili New Energy for CNY 139,2 million and CNY92.8 million respectively. Consideration will be paid in two installments, Initial 20% of payemnt is made and remaining 80% will be paid within 30 working days from the transfer of 40.00% equity of Changjili Company to the completion of the industrial and commercial change registration. For year ended December 31, 2020, The Jiangsu Changjili New Energy had total assets and net assets as CNY 247 million and CNY 210 million whereas the revenue, Operating and net profit was CNY 202.2 million, CNY 53.2 million and CNY 46.2 million respectively. Transaction needs to be approved by the general meeting of shareholders.


ę S&P Capital IQ 2021
All news about ZHEJIANG TIANTIE INDUSTRY CO., LTD.
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05/18Zhejiang Tiantie Industry Co., Ltd.Approves Final Cash Dividend for the Year 2020
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04/27Zhejiang Tiantie Industry Co., Ltd. Announces Proposal of Final Cash Dividend for the Y..
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04/27Zhejiang Tiantie Industry Co., Ltd. Reports Earnings Results for the First Quarter Ende..
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04/14Zhejiang Tiantie Industry Co., Ltd. intends to sign an Equity Transfer Agreement to acq..
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03/29Zhejiang Tiantie Industry Co., Ltd. Reports Earnings Results for the Full Year Ended De..
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03/08Chen Zhu signed an agreement to acquire 5.3% stake in Zhejiang Tiantie Industry Co., Lt..
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02/19Zhejiang Tiantie Industry Co., Ltd. announced that it expects to receive CNY 810 millio..
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Financials
Sales 2021 1 796 M 278 M 278 M
Net income 2021 335 M 51,9 M 51,9 M
Net Debt 2021 - - -
P/E ratio 2021 36,9x
Yield 2021 0,37%
Capitalization 12 388 M 1 917 M 1 918 M
Capi. / Sales 2021 6,90x
Capi. / Sales 2022 5,41x
Nbr of Employees 957
Free-Float 97,5%
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Technical analysis trends ZHEJIANG TIANTIE INDUSTRY CO., LTD.
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Mean consensus BUY
Number of Analysts 1
Last Close Price 21,39 CNY
Average target price 26,10 CNY
Spread / Average Target 22,0%
EPS Revisions
Managers and Directors
Kong Bin Xu General Manager & Director
Shuang Lian Zheng Chief Financial Officer & Deputy General Manager
Ji Ding Xu Chairman
Xiao Yu Di Chairman-Supervisory Board & Deputy Head-Sales
Jin Kong Independent Director
Sector and Competitors