Duan Lianyuan cancelled the acquisition of 2.9% stake in Vitalong Fire Safety Group Co., Ltd. from Suzhou Thvow Technology Co., Ltd..
June 27, 2017
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Duan Lianyuan agreed to acquire 2.9% stake in Vitalong Fire Safety Group Co., Ltd. from Suzhou Thvow Technology Co., Ltd. (SZSE:002564) for CNY 16.4 million on June 28, 2016. Under the terms of the deal, 2.34 million shares will be acquired at an offer per share of CNY 7 per share. The transfer will be via the NEEQ. As of 2015, Vitalong Fire Safety Group had total assets of CNY 619.06 million, Net assets of CNY 397.28 million, revenues of CNY 327.6 million, operating profit of CNY 47.71 million and net profit of CNY 38.78 million. The transaction does not require the Suzhou Thvow Technology’s Directorate or its shareholders’ approval.
Duan Lianyuan cancelled the acquisition of 2.9% stake in Vitalong Fire Safety Group Co., Ltd. from Suzhou Thvow Technology Co., Ltd. (SZSE:002564) on June 28, 2017.
SuZhou THVOW Technology. Co. ,Ltd is a China-based manufacturer of high-end equipment. The Company's main products include heat exchangers, separators, reactors, storage tanks, towers, filters and evaporators in various materials and specifications. The Company's products are used in petrochemical, coal chemical, metallurgy and electric power industries, among others. The Company is also involved in the Engineering Procurement Construction (EPC) of electric power and new energy projects, the manufacture of military and marine engineering equipment, as well as logistics and warehousing business. The Company operates its business in domestic market and overseas markets.
SUZHOU THVOW TECHNOLOGY. CO., LTD. 
