Guoyuan Trust-Anrui No. 1 Single Fund Trust agreed to acquire 5.9% stake in Zhejiang Wanliyang Co., Ltd. from Chery Automobile Co., Ltd. for approximately CNY 850 million.
October 28, 2021
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Guoyuan Trust-Anrui No. 1 Single Fund Trust agreed to acquire 5.9% stake in Zhejiang Wanliyang Co., Ltd. (SZSE:002434) from Chery Automobile Co., Ltd. for approximately CNY 850 million on October 29, 2021. As per terms of transaction, Chery Automobile intends to transfer its 79 million shares of the Zhejiang Wanliyang Co., Ltd. unrestricted tradable shares 5.90% of the Zhejiang Wanliyang Co., Ltd. total share capital to Guoyuan Trust through an agreement transfer at a transfer price of CNY 10.77 per share. Post completion, Chery Automobile Co., Ltd. will hold 0.94% stake and Guoyuan Trust-Anrui No. 1 Single Fund Trust will hold 5.9% stake. In a related transaction, China Resources Trust Huaying No. 16 Single Fund Trust, managed by China Resources Shenzhen International Investment Trust Co., Ltd. agreed to acquire 5.5% stake in Zhejiang Wanliyang Co., Ltd. from Chery Automobile Co., Ltd. for approximately CNY 790 million on October 29, 2021. The transaction is subject to approval from Shenzhen Stock Exchange.
Zhejiang Wanliyang Co., Ltd., formerly ZHEJIANG WANLIYANG TRANSMISSION COMPANY LTD., is a China-based company, principally engaged in the research and development, manufacture and distribution of automotive parts, and financial leasing business. The Company's automotive parts include automotive interior parts, and transmission gearboxes for passenger cars, light trucks, medium-loaded trucks, heavy trucks and agricultural machineries. The Company distributes its products within domestic market and to overseas markets.
Guoyuan Trust-Anrui No. 1 Single Fund Trust agreed to acquire 5.9% stake in Zhejiang Wanliyang Co., Ltd. from Chery Automobile Co., Ltd. for approximately CNY 850 million.
ZHEJIANG WANLIYANG CO., LTD. 
