Chongqing Electromechanical (02722) issued an announcement. On November 29, 2024, Zhongtong Group (a wholly-owned subsidiary of the company...
Zhitong Finance App News, Chongqing Electromechanical (02722) announced that on November 29, 2024, Zhongtong Group (a wholly-owned subsidiary of the company) signed an equity transfer agreement with the asset company Chongqing Electromechanical Holding Group Asset Management Co., Ltd. (a wholly-owned subsidiary of the company's controlling shareholder). Based on this, Zhongtong Group agreed to acquire and the asset company agreed to sell the underlying shares held by the asset company at a cost of approximately RMB 9.9556 million.
According to the announcement, in order to implement the strategic adjustments of the Chongqing Municipal Government and the Chongqing Municipal State-owned Assets Administration Commission for state-owned enterprises to focus on their main business, enhance core functions, and optimize integration (including number of enterprises), according to the Group's business development plan, after negotiations between the parties, Zhongtong Group agreed to acquire and the asset company agreed to sell 33.33% of the shares of the target company Chongqing Zhongtong Turbine Technology Co., Ltd.