Shanghai Shangfeng Group Co., Ltd. and Ye Jinwu agreed to acquire 60% stake in Wuhan Hiconics Power Technology Co., Ltd. from Hiconics Eco-energy Technology Co., Ltd. for CNY 1.
February 08, 2021
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Shanghai Shangfeng Group Co., Ltd. and Ye Jinwu agreed to acquire 60% stake in Wuhan Hiconics Power Technology Co., Ltd. from Hiconics Eco-energy Technology Co., Ltd. (SZSE:300048) for CNY 1 on February 9, 2021. Post acquisition Hiconics Eco-energy Technology Co., Ltd. will not hold any shares in Wuhan Hiconics Power Technology Co., Ltd. In a related transaction Shanghai Shangfeng Group Co., Ltd. and Ye Jinwu signed an equity transfer agreement to acquire 64% stake in Wuhan Hiconics Intelligent Electric Co., Ltd. from Hiconics Eco-energy Technology Co., Ltd. (SZSE:300048) for CNY 32 million on February 9, 2021. For the period ember 30, 2020, Wuhan Hiconics Power Technology Co., Ltd. reported total assets of CNY 135.4 million, negative net assets of CNY 281.8 million, Revenues of CNY 18.2 million, EBIT of CNY 156.8 million and net income of CNY 155.8 million.
Hiconics Eco-energy Technology Co., Ltd., formerly Hiconics Drive Technology Co., Ltd., is a China-based company principally engaged in the research and development(R&D), manufacture and sale of high, medium and low voltage frequency inverters. The Company mainly operates through three segments. Energy Saving Equipment Manufacture segment is involved in the manufacture, R&D and sale of high, middle and low voltage frequency inverters and servo products. Energy Saving and Environmental Protection Project Construction and Operation segment includes landfill gas utilization and waste treatment, industrial waste heat utilization, refractory sewage treatment, industrial energy efficiency and low-emission of coal-fired power plants through its subsidiaries. New Energy Vehicle Assembly and Operation segment is involved in the R&D and manufacture of key components, power assembly systems, charging piles and in-vehicle chargers for new energy vehicles, as well as new energy car rental business.
Shanghai Shangfeng Group Co., Ltd. and Ye Jinwu agreed to acquire 60% stake in Wuhan Hiconics Power Technology Co., Ltd. from Hiconics Eco-energy Technology Co., Ltd. for CNY 1.
HICONICS ECO-ENERGY TECHNOLOGY CO., LTD. 
