Huaneng Trust Yuanhe No. 6 Collection Fund Trust Plan, managed by Huaneng Guicheng Trust Corp.,Ltd. completed the acquisition of 5.04% stake in Guizhou Aviation Technical Development Co., Ltd from Hangzhou Canyun Yingyi Investment Partnership Enterprise (L.P.), managed by Zwing Asset Management Co., Ltd.
August 30, 2022
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Huaneng Trust Yuanhe No. 6 Collection Fund Trust Plan, managed by Huaneng Guicheng Trust Corp.,Ltd. signed a share transfer agreement to acquire a 5.04% stake in Guizhou Aviation Technical Development Co., Ltd (SHSE:688239) from Hangzhou Canyun Yingyi Investment Partnership Enterprise (L.P.), managed by Zwing Asset Management Co., Ltd. for approximately CNY 370 million on July 30, 2022. Under the terms, Huaneng Trust Yuanhe No. 6 Collection Fund will acquire 7,050,000 shares at a price of CNY 52.9 per share. Huaneng Trust Yuanhe No. 6 Collection Fund will pay the consideration of CNY 30 million within 2 working days after the payment conditions for the first share transfer price agreed in this agreement are satisfied or are waived, CNY 221.5 million within within 2 working days after the payment conditions for the second share transfer price agreed in this agreement are satisfied or waived and the remaining CNY 121.5 million within 7 working days after the transfer date.
Huaneng Trust Yuanhe No. 6 Collection Fund Trust Plan, managed by Huaneng Guicheng Trust Corp.,Ltd. completed the acquisition of 5.04% stake in Guizhou Aviation Technical Development Co., Ltd (SHSE:688239) from Hangzhou Canyun Yingyi Investment Partnership Enterprise (L.P.), managed by Zwing Asset Management Co., Ltd. on August 31, 2022.
Guizhou Aviation Technical Development Co Ltd is a China-based company mainly engaged in the research, development, production and sales of ring forgings made of hard-to-deform metal materials for aviation. The Company's main products are aero-engine ring forgings. Its aero-engine forgings are mainly used in a variety of domestic aero-engines in pre-research, research and active service. Its products are also applied in aerospace rocket engines, missiles, shipboard gas turbines, industrial gas turbines, energy and other high-end equipment fields. The Company primarily operates in the domestic market.