Jiangsu Guomao Reducer Co., Ltd. agreed to acquire 65% of Modoli Intelligent Transmission Co., Ltd. from Guan Xiangshang , Li Zemin and Ge Yihuai for approximately CNY 200 million.
November 08, 2023
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Jiangsu Guomao Reducer Co., Ltd. (SHSE:603915) agreed to acquire 65% of Modoli Intelligent Transmission (Jiangsu) Co., Ltd. from Guan Xiangshang , Li Zemin and Ge Yihuai for approximately CNY 200 million on November 8, 2023. Jiangsu Guomao Reducer Co., Ltd. (SHSE:603915) entered into Equity Transfer Agreement to acquire 65% of Modoli Intelligent Transmission (Jiangsu) Co., Ltd. from Guan Xiangshang , Li Zemin and Ge Yihuai on February 19, 2024. As of September 30, 2023, Modoli Intelligent Transmission (Jiangsu) Co., Ltd. reported total assets of CNY 180 million, and net assets of CNY 110 million.
Jiangsu Guomao Reducer Co., Ltd. is a China-based company principally engaged in the research and development, production and sales of reducers. The Company's main products are reducers, which includes gear reducers (including modular reducers and high-power reducers) and cycloidal pin wheel reducers. The Company's products are widely used in various fields of national economy such as environmental protection, construction, electricity, chemicals, food, logistics, plastics, rubber, mining, metallurgy, petroleum, cement, shipbuilding, water conservancy, textile, printing and dyeing, feed and pharmaceutical. In addition, The Company also provides accessories and Maintenance modification services. The Company mainly distributes its products in the domestic market.
Jiangsu Guomao Reducer Co., Ltd. agreed to acquire 65% of Modoli Intelligent Transmission Co., Ltd. from Guan Xiangshang , Li Zemin and Ge Yihuai for approximately CNY 200 million.
JIANGSU GUOMAO REDUCER CO., LTD. 
