China Nuclear New Energy Investment Co., Ltd. agreed to acquire Tongfang Water Group Co., Ltd. from Tsinghua Tongfang Co.,Ltd. for CNY 1.91 billion
April 28, 2022
Share
China Nuclear New Energy Investment Co., Ltd. agreed to acquire Tongfang Water Group Co., Ltd. from Tsinghua Tongfang Co.,Ltd. (SHSE:600100) for CNY 1.91 billion on April 29, 2022. The transaction is approved by board of the directors of Tsinghua Tongfang. The transaction is subject to approval from acquirer board and Anti-monopoly Bureau of the State Administration for Market Regulation. Tongfang Water Group recorded revenue of CNY 1.94 billion and net profit of CNY 136.9 million for the year ended December 31, 2021. As of December 31, 2021 Tongfang Water Group recorded total assets of CNY 4.04 billion and net assets of CNY 1.34 billion. On June 16, 2022, the company received the partial transfer payment for the stake in Tongfang Water Group paid by China Nuclear New Energy, that is CNY 1.53 billion
Tsinghua Tongfang Co., Ltd. is a technology group organized around 3 areas of activity:
- information and communication technologies: development and integration of smart networking solutions and systems, development of data processing systems, high-end communication equipment, software publishing, computer manufacturing, consumer electronics manufacturing, etc. The group also develops industrial control systems, smart transport systems, home automation systems, and shipbuilding solutions;
- public safety: development of control and security solutions, urban management and monitoring systems, access control systems, smart cards, information security systems, satellite positioning systems, etc. ;
- energy and environment: development of energy efficiency solutions, district heating systems, residual heat recovery systems, urban lighting systems, waste and water management and treatment systems, etc.
China accounts for 65% of net sales.
TSINGHUA TONGFANG CO., LTD. 
