Linzhou Heavy Machinery Group Co., Ltd intends to acquire 29.2% stake in Beijing Irisking Co., Ltd. from Linzhou Heavy Machinery Group Holding Co., Ltd. for approximately CNY 130 million.
April 08, 2021
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Linzhou Heavy Machinery Group Co., Ltd (SZSE:002535) intends to acquire 29.2% stake in Beijing Irisking Co., Ltd. from Linzhou Heavy Machinery Group Holding Co., Ltd. for approximately CNY 130 million on March 31, 2021. The financials of Beijing Irisking Co., Ltd. for December 31, 2021, are total assets of CNY 58.24 million, net assets of CNY 37.87 million, operating revenue CNY 45.1 million and net loss of CNY 14.47 million. On April 8, 2021, the transaction was approved by the Board of Directors of Linzhou Heavy Machinery Group. Da Hua Certified Public Accountants acted as accountant to Beijing Irisking.
Linzhou Heavy Machinery Group Co.,Ltd is a China-based company principally engaged in the manufacture, sale, maintenance and leasing of coal machinery equipment. The Company's main products include brackets, scrapers, pillars, road headers and other products. The Company is also involved in the manufacture and sales of explosion-proof electrical apparatus and robots, the operation of coal mines, the casting of pig iron, the sales of coal, as well as commercial factoring business. The Company distributes its products mainly in domestic market.
Linzhou Heavy Machinery Group Co., Ltd intends to acquire 29.2% stake in Beijing Irisking Co., Ltd. from Linzhou Heavy Machinery Group Holding Co., Ltd. for approximately CNY 130 million.
LINZHOU HEAVY MACHINERY GROUP CO.,LTD 
