CRRC Zhuzhou Investment Holding Co., Ltd entered into Share Transfer Agreement to acquire 5.5% stake in Jiangsu Yawei Machine Tool Co., Ltd. from Jiangsu Yawei Scientific & Technological Investment Co., Ltd., Pan Enhai, Zhu Pengcheng, and Wang Jun for approximately CNY 340 million.
September 29, 2021
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CRRC Zhuzhou Investment Holding Co., Ltd entered into Share Transfer Agreement to acquire 5.5% stake in Jiangsu Yawei Machine Tool Co., Ltd. (SZSE:002559) from Jiangsu Yawei Scientific & Technological Investment Co., Ltd., Pan Enhai, Zhu Pengcheng, and Wang Jun for approximately CNY 340 million on September 8, 2021. Shares will be acquired at CNY 11 per share. As of August 31, 2022, Termination Agreement of Share Transfer and Voting Rights Entrustment Agreement was signed by the parties but has not yet come into effect as the proposal still needs to be submitted to the company's general meeting of shareholders for deliberation.
Jiangsu Yawei Machine Tool Co., Ltd. is a China-based company engaged in the research, development, manufacture and sale of computerized numerical control (CNC) sheet metal forming machine tools and automated production lines. The Company operates through three segments. The Metal Forming Machine segment is engaged in the research, development and manufacture of host products, including CNC turret punch, CNC shears and others, as well as automatic production lines, including sheet metal automated processing equipment and coil processing machines. The Laser Processing Equipment segment is involved in the research, development and manufacture of two-dimensional laser cutting machines, two-dimensional laser flexible cutting units, laser welding systems, automatic production lines and others. The Smart Manufacturing Solutions segment includes industrial robots, industrial management software, industrial Internet big data platforms and warehouse logistics automation systems.
CRRC Zhuzhou Investment Holding Co., Ltd entered into Share Transfer Agreement to acquire 5.5% stake in Jiangsu Yawei Machine Tool Co., Ltd. from Jiangsu Yawei Scientific & Technological Investment Co., Ltd., Pan Enhai, Zhu Pengcheng, and Wang Jun for approximately CNY 340 million.
JIANGSU YAWEI MACHINE TOOL CO., LTD. 
