Zhejiang Wanfeng Auto Wheel Co., Ltd. signed the equity transfer agreement to acquire remaining 5% stake in Wuxi Xiongwei Precision-Machinery Sci-Tech Co., Ltd. from Xiang Yuxun, Ma Jiquan, Yan Yidong and Zhao Junwei for CNY 66 million.
October 14, 2021
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Zhejiang Wanfeng Auto Wheel Co., Ltd. (SZSE:002085) signed the equity transfer agreement to acquire remaining 5% stake in Wuxi Xiongwei Precision-Machinery Sci-Tech Co., Ltd. from Xiang Yuxun, Ma Jiquan, Yan Yidong and Zhao Junwei for CNY 66 million on October 14, 2021. Before October 25, 2021, Zhejiang Wanfeng Auto Wheel should pay CNY 33 million and remaining CNY 33 million before November 25, 2021. For the year ended on June 30, 2021, Wuxi Xiongwei Precision-Machinery Sci-Tech reported total assets of CNY 1.2470666 billion and shareholders equity of CNY 880.2896 million.
ZHEJIANG WANFENG AUTO WHEEL CO., LTD is a China-based company, principally engaged in the manufacture and distribution of aluminum alloy wheels for automobiles and motorcycles, as well as magnesium alloy wheels. The Company primarily provides painted wheels, electroplating wheels, rough wheels, rag wheels, forging wheels, motorcycle wheels, intake manifold products and metal castings. The Company is also engaged in coating processing business. The Company conducts its businesses within domestic and overseas markets.
Zhejiang Wanfeng Auto Wheel Co., Ltd. signed the equity transfer agreement to acquire remaining 5% stake in Wuxi Xiongwei Precision-Machinery Sci-Tech Co., Ltd. from Xiang Yuxun, Ma Jiquan, Yan Yidong and Zhao Junwei for CNY 66 million.
ZHEJIANG WANFENG AUTO WHEEL CO., LTD. 
