Taicang Tianda Investment Management Co., Ltd. agreed to acquire 70% stake in Shenzhen Titan Smart Energy Technology Co., Ltd. from Titan Wind Energy Co., Ltd. for CNY 11.3 million.
December 28, 2020
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Taicang Tianda Investment Management Co., Ltd. agreed to acquire 70% stake in Shenzhen Titan Smart Energy Technology Co., Ltd. from Titan Wind Energy (Suzhou) Co., Ltd. (SZSE:002531) for CNY 11.3 million on December 29, 2020. Taicang Tianda Investment Management Co., Ltd. uses its own funds to pay the equity transfer price to the transferee company by wire transfer, and the one-time payment will be made within 60 working days after the agreement is signed and the corresponding industrial and commercial changes are completed. Shenzhen Titan Smart Energy Technology Co., Ltd. reported total assets of CNY 11.3 million and total common equity of CNY 9.9 million. The transaction has been reviewed and approved at the eleventh extraordinary meeting of the company's fourth Board of Directors in 2020. The transaction does not need to be submitted to the general meeting of shareholders for deliberation, and does not require the approval of relevant government departments.
Titan Wind Energy Suzhou Co Ltd is a China-based company mainly engaged in wind power generation and wind power equipment business. The Company's main business includes the production and sales of wind towers and parts, wind turbine blades and molds, wind turbine offshore engineering and related products, and the development, investment, construction and operation of wind farm projects. The Company's products include wind towers and related products, blade products, offshore engineering products and power generation.
Taicang Tianda Investment Management Co., Ltd. agreed to acquire 70% stake in Shenzhen Titan Smart Energy Technology Co., Ltd. from Titan Wind Energy Co., Ltd. for CNY 11.3 million.