Inner Mongolia Jinda Coal Coke Co., Ltd. completed the acquisition of 85.8% stake in Linzhou Heavy Machinery Lingang Iron & Steel Co., Ltd from Linzhou Heavy Machinery Group Co., Ltd for approximately CNY 130 million.
September 29, 2020
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Inner Mongolia Jinda Coal Coke Co., Ltd. signed an agreement to acquire Linzhou Heavy Machinery Lingang Iron & Steel Co., Ltd from Linzhou Heavy Machinery Group Co., Ltd (SZSE:002535) on June 23, 2020. Linzhou Heavy Machinery Lingang Iron & Steel Co., Ltd reported total revenue of CNY 305.1 million, net loss of CNY 684.7 million and net liability of CNY 27.6 million as of December 31, 2019. The transaction is approved by the Board of Linzhou Heavy Machinery Group Co., Ltd.
Inner Mongolia Jinda Coal Coke Co., Ltd. completed the acquisition of 85.8% stake in Linzhou Heavy Machinery Lingang Iron & Steel Co., Ltd from Linzhou Heavy Machinery Group Co., Ltd (SZSE:002535) for approximately CNY 130 million during the end of September, 2020.
Linzhou Heavy Machinery Group Co.,Ltd is a China-based company principally engaged in the manufacture, sale, maintenance and leasing of coal machinery equipment. The Company's main products include brackets, scrapers, pillars, road headers and other products. The Company is also involved in the manufacture and sales of explosion-proof electrical apparatus and robots, the operation of coal mines, the casting of pig iron, the sales of coal, as well as commercial factoring business. The Company distributes its products mainly in domestic market.
Inner Mongolia Jinda Coal Coke Co., Ltd. completed the acquisition of 85.8% stake in Linzhou Heavy Machinery Lingang Iron & Steel Co., Ltd from Linzhou Heavy Machinery Group Co., Ltd for approximately CNY 130 million.
LINZHOU HEAVY MACHINERY GROUP CO.,LTD 
