Shenyang Machine Tool Co., Ltd. cancelled the acquisition of remaining 30% stake in Shenyang Machine Tool Yinfeng Foundry Co.,Ltd. from Shenyang Financial And Trade Development Zone Huitong Microfinance Co., Ltd.
January 02, 2020
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Shenyang Machine Tool Co., Ltd. (SZSE:000410) agreed to acquire remaining 30% stake in Shenyang Machine Tool Yinfeng Foundry Co.,Ltd. from Shenyang Financial And Trade Development Zone Huitong Microfinance Co., Ltd. on January 3, 2019. Post transfer, Shenyang Machine Tool Co., Ltd will hold 100% stake. As of August 2018, Shenyang Machine Tool Yinfeng Foundry Co.,Ltd. reported total assets of CNY 3.8 billion and net liabilities of CNY 219.6 million. This transaction is approved by the authority of Shenyang Machine Tool Co., Ltd. Board of Directors and does not need to be submitted for review at the shareholders’ meeting.
Shenyang Machine Tool Co., Ltd. (SZSE:000410) cancelled the acquisition of remaining 30% stake in Shenyang Machine Tool Yinfeng Foundry Co.,Ltd. from Shenyang Financial And Trade Development Zone Huitong Microfinance Co., Ltd. on January 3, 2020.
SHENYANG MACHINE TOOL CO,LTD is a China-based company principally engaged in manufacture and sale of metal cutting machine tools and spare parts. The Company's main products include computerized numerical control machine tools, general lathes, general boring machines and general drilling machines, as well as relevant spare parts. The Companyâs products are mainly used for the cutting and processing of metal materials. The Company distributes its products in domestic market and to overseas markets.
Shenyang Machine Tool Co., Ltd. cancelled the acquisition of remaining 30% stake in Shenyang Machine Tool Yinfeng Foundry Co.,Ltd. from Shenyang Financial And Trade Development Zone Huitong Microfinance Co., Ltd.
SHENYANG MACHINE TOOL CO., LTD. 
