Wuhan Huichuang Lantian New Energy Vehicle Operation Co., Ltd. agreed to acquire Henan Changxing Intelligent Power Technology Co., Ltd. from Nanjing Yueboo Power System Co., Ltd. for CNY 140 million.
December 13, 2020
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Wuhan Huichuang Lantian New Energy Vehicle Operation Co., Ltd. agreed to acquire Henan Changxing Intelligent Power Technology Co., Ltd. from Nanjing Yueboo Power System Co., Ltd. (SZSE:300742) for CNY 140 million on December 13, 2020. Wuhan Huichuang Lantian New Energy Vehicle Operation will pay first equity transfer payment of CNY 42 million when this agreement becomes effective and the prescribed preconditions are met; the second equity transfer payment of CNY 42 million shall be paid within 5 working days after the completion of the registration of the target equity in industrial and commercial changes; within 30 working days after the completion of the industrial and commercial change registration of the target equity, all remaining equity transfer funds CNY 56 million shall be paid. Henan Changxing Intelligent Power Technology has total assets of CNY 320.2 million and net assets of CNY 122.9 million as of October 30, 2020. Henan Changxing Intelligent Power Technology generates revenue of CNY 5.2 million and net profit of -CNY 5.7 million from January to October 2020. The transaction has been unanimously approved by the Board of Directors of Nanjing Yueboo Power System.
Nanjng YueBoo Power System Co., Ltd. is a China-based company principally engaged in the research and development, manufacture and sales of new energy vehicle powertrain systems. The Companyâs main products are pure electric vehicle powertrain systems, including vehicle control systems, drive motor systems and automatic transmission systems. The Companyâs products are mainly applied in the field of special vehicles, including pure electric passenger cars and pure electric logistics vehicles. Through its subsidiaries, the Company is also engaged in the provision of complete powertrain solutions for vehicle manufacturers. The Company mainly conducts its businesses in domestic market.
Wuhan Huichuang Lantian New Energy Vehicle Operation Co., Ltd. agreed to acquire Henan Changxing Intelligent Power Technology Co., Ltd. from Nanjing Yueboo Power System Co., Ltd. for CNY 140 million.