Jiangyin Electrical Alloy Co.,Ltd cancelled the acquisition of 67% stake in Suzhou Fu Lijia Electric Technology Co., Ltd. from Zhang Qi.
September 15, 2020
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Jiangyin Electrical Alloy Co.,Ltd (SZSE:300697) entered into a contract to acquire 67% stake in Suzhou Fu Lijia Electric Technology Co., Ltd. from Zhang Qi for CNY 4.5 million on September 16, 2019. Upon completion, Zhang Qi and Jiangyin Electrical Alloy Co.,Ltd will hold 19% and 67% stake in Suzhou Fu Lijia Electric Technology Co., Ltd. For the year ended December 31, 2018, Suzhou Fu Lijia Electric Technology Co., Ltd. reported total assets of CNY 8.5 million, total common equity of CNY 6.1 million, total revenue of CNY 6.03 million and net income of CNY 1.7 million.
Jiangyin Electrical Alloy Co.,Ltd (SZSE:300697) cancelled the acquisition of 67% stake in Suzhou Fu Lijia Electric Technology Co., Ltd. from Zhang Qi on September 16, 2020.
Jiangyin Electrical Alloy Co Ltd is a company mainly engaged in research, development, production and sales of copper and copper alloy products. The Company's products are comprised of electrified railway catenary series products and copper busbar series products. The electrified railway contact network products include railway contact lines and load-bearing cables, which are used in electrified railway areas, such as high-speed railways. The copper busbar series products include copper busbars and deep-processed copper parts, which are used in the fields of power generation, transmission and distribution.
JIANGYIN ELECTRICAL ALLOY CO.,LTD 
