Harbin Air Conditioning Co.,Ltd. entered into an agreement to acquire Harbin Yigong Silaote Tool Co., Ltd., from Harbin No.1 Tools Manufacturing Co., Ltd., Han Qingang and Zhang Yue for CNY 11.2 million.
August 17, 2020
Share
Harbin Air Conditioning Co.,Ltd. (SHSE:600202) entered into an agreement to acquire Harbin Yigong Silaote Tool Co., Ltd., from Harbin No.1 Tools Manufacturing Co., Ltd., Han Qingang and Zhang Yue for CNY 11.2 million on August 18, 2020. Harbin Air Conditioning Co.,Ltd. will acquire 25.88% stake from Harbin No.1 Tools Manufacturing Co., Ltd., 44.47% stake from Han Qingang and 29.65% stake from Zhang Yue. As of December 31, 2019, Harbin Yigong Silaote Tool Co., Ltd. recorded total assets of CNY 23.2 million, net assets of CNY 12.53 million, total liabilities of CNY 10.67 million, revenues of CNY 2.7 million and net loss of CNY 0.76 million. The transactions is subjected to approval of boards of directors of Harbin Air Conditioning Co.,Ltd., shareholders of Harbin No.1 Tools Manufacturing Co., Ltd. and other competent authorities.
Harbin Air Conditioning Co., Ltd. is a China-based company principally engaged in the development, manufacture and distribution of air coolers. The Company's major products are air coolers for petrochemical factories and air coolers for power plants. Its air coolers for petrochemical factories are applied in condensation and cooling of industry mediums in petrochemical, coal chemical, metallurgical and other industries. Its air coolers for power plants are applied in cooling of waste steam in steam turbines. In addition, the Company also engages in the design, manufacture and sales of nuclear power station air handling units and other industrial air conditioning products. The Company distributes its products within domestic market and to overseas markets.
Harbin Air Conditioning Co.,Ltd. entered into an agreement to acquire Harbin Yigong Silaote Tool Co., Ltd., from Harbin No.1 Tools Manufacturing Co., Ltd., Han Qingang and Zhang Yue for CNY 11.2 million.
HARBIN AIR CONDITIONING CO.,LTD. 
