Shanghai Welltech Automation Co.,Ltd. agreed to acquire Shanghai Ziyan Machinery Technology Co., Ltd. from Shanghai Zijiang Holdings Co., Ltd. for CNY 32.2 million.
September 17, 2021
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Shanghai Welltech Automation Co.,Ltd. (SZSE:002058) agreed to acquire Shanghai Ziyan Machinery Technology Co., Ltd. from Shanghai Zijiang Holdings Co., Ltd. for CNY 32.2 million on September 17, 2021. Within 7 days after the agreement effective date, the company will pay 51% of the transfer price. Prior December 31, 2021, Shanghai Welltech Automation will pay the remaining balance. For the year ended on July 31, 2021, Shanghai Ziyan Machinery Technology reported total assets of CNY 141.4353 million and owners’ equity of CNY 52.9444 million. The transaction is subject to Shanghai Welltech Automation shareholders. Ziyan Machinery shareholders’ approved the transaction. Shanghai Welltech Automation board of directors approved the transaction. Sinolink Securities Co., Ltd. (SHSE:600109) acted as financial advisor, Grandall Law Firm acted as legal advisor and Moore Stephens Da Hua acted as accountant to Shanghai Welltech Automation Co.,Ltd.
SHANGHAI WELLTECH AUTOMATION CO., LTD. is a China-based company principally engaged in the manufacture and distribution of automation instruments and meters. The Company's major products include pressure transmitters, electromagnetic flow meters, as well as valves and other instruments. The Company's products are mainly applied in electricity, metallurgy, petroleum, chemical and other traditional industrial fields. The Company distributes its products mainly within domestic market.
SHANGHAI WELLTECH AUTOMATION CO.,LTD. 