Wu'an Heating General Co., Ltd cancelled the acquisition of Wu'an Dingfeng Thermal Power Co., Ltd. from Zhejiang Dun'an Artificial Environment Co., Ltd and Zhejiang Dun'an Energy Saving Technology Co., Ltd.
October 25, 2020
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Wu'an Heating General Co., Ltd agreed to acquire Wu'an Dingfeng Thermal Power Co., Ltd. from Zhejiang Dun'an Artificial Environment Co., Ltd (SZSE:002011) and Zhejiang Dun'an Energy Saving Technology Co., Ltd. for approximately CNY 280 million on October 25, 2019. Under the terms, Zhejiang Dun'an Artificial Environment Co., Ltd. will transfer 75.33% stake in Wu'an Dingfeng Thermal Power Co., Ltd to Wu'an Heating General Co., Ltd for approximately CNY 260 million and Zhejiang Dun'an Energy Saving Technology Co., Ltd. will transfer 24.67% stake in Wu'an Dingfeng Thermal Power Co., Ltd to Wu'an Heating General Co., Ltd for CNY 20 million. After transfer, Wu'an Heating General Co., Ltd. will hold a 100% stake in the target company. For the year ended December 31, 2018, Wu'an Dingfeng Thermal Power Co., Ltd. reported total assets of CNY 4.9 million, net liabilities of CNY 1 million, operating income of CNY 0.8 million and net loss of CNY 0.07 million. The transaction has been approved by the 18th meeting of the 6th directorate of Zhejiang Dun'an Artificial Environment Co., Ltd.
Wu'an Heating General Co., Ltd cancelled the acquisition of Wu'an Dingfeng Thermal Power Co., Ltd. from Zhejiang Dun'an Artificial Environment Co., Ltd (SZSE:002011) and Zhejiang Dun'an Energy Saving Technology Co., Ltd. on October 26, 2020.
Zhejiang DunAn Artificial Environment Co Ltd is a China-based company mainly engaged in the research and development, production and sales of refrigeration components, refrigeration and air-conditioning equipment and automotive thermal management. The main products of the refrigeration accessories business include electronic expansion valves, four-way valves, globe valves, solenoid valves, small pressure vessels, heat exchangers and integrated pipeline components. The main products of the commercial refrigeration and air-conditioning equipment business include commercial chillers, air-conditioning terminals, nuclear power, rail transit, communication, cold chain and other special air-conditioning system units. The Company also provides new energy vehicle thermal management business. The Company operates businesses in both domestic and overseas markets.
Wu'an Heating General Co., Ltd cancelled the acquisition of Wu'an Dingfeng Thermal Power Co., Ltd. from Zhejiang Dun'an Artificial Environment Co., Ltd and Zhejiang Dun'an Energy Saving Technology Co., Ltd.
ZHEJIANG DUN'AN ARTIFICIAL ENVIRONMENT CO., LTD 
