VC Holdings (00821) announced that on July 26, 2024 (after trading hours), the buyer, Shenzhen Huiying Zhichuang Technology Co., Ltd. (a wholly-owned subsidiary of the company), and the seller, Beijing Zhongxi Energy Co., Ltd., entered into a stock transfer agreement. According to the agreement, the buyer agreed to purchase and the seller agreed to sell the sales equity for RMB 9,990, representing 30% of the equity of Hainan Zhongtian Jiahe Industrial Co., Ltd., the target company.
The target company mainly engages in international and domestic trading of commodities such as liquefied natural gas, liquefied petroleum gas, petroleum coke, and asphalt.
The announcement stated that the target company's business operations involve specific professional technologies. The target company has an experienced management team and existing operational and compliance infrastructure, which has immeasurable value in ensuring that operations comply with legal and safety standards and thereby reducing potential risks associated with the industry. After becoming a shareholder of the target company, the group's management team can enter this industry and obtain technical knowledge from the established structure of the target company. This strategic action can provide the group with a great opportunity to enter the natural gas business and enhance the stability and growth potential of the overall business.
