Sichuan Shengbang Chuangheng Enterprise Management Co., Ltd. completed the acquisition of 28.01% stake in Xingmin Intelligent Transportation Systems Co., Ltd. from Wang Zhicheng.
January 01, 2019
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Sichuan Shengbang Chuangheng Enterprise Management Co., Ltd. signed an agreement to acquire 28.01% stake in Xingmin Intelligent Transportation Systems (Group) Co., Ltd. (SZSE:002355) from Wang Zhicheng for CNY 1.4 billion on November 21, 2018. Under the terms of the transaction, Wang Zhicheng will transfer 173.85 million shares. Upon completion, Wang Zhicheng will hold 10.71 million shares, representing 1.73% stake, in Xingmin Intelligent Transportation Systems (Group) Co., Ltd.
Sichuan Shengbang Chuangheng Enterprise Management Co., Ltd. completed the acquisition of 28.01% stake in Xingmin Intelligent Transportation Systems (Group) Co., Ltd. (SZSE:002355) from Wang Zhicheng on January 2, 2019.
Xingmin Intelligent Transportation Systems Group Co Ltd is a China-based company principally engaged in the research and development, production and sales of automobile steel wheels. The Company mainly operates two businesses. The steel wheels business mainly engages in the production and sales of passenger car aluminum-look wheels, passenger car wheels, new energy vehicle wheels, commercial vehicle tubeless lightweight wheels, light truck tubeless wheels, light truck steel wheels, commercial vehicle steel wheels, agricultural and forestry machinery wheels and other products. The internet of vehicles operation services business mainly engages in the provision of telematics service provider (TSP) services and customized internet of vehicles solutions. The Company mainly operates its business in the domestic and overseas markets.
Sichuan Shengbang Chuangheng Enterprise Management Co., Ltd. completed the acquisition of 28.01% stake in Xingmin Intelligent Transportation Systems Co., Ltd. from Wang Zhicheng.
XINGMIN INTELLIGENT TRANSPORTATION SYSTEMS (GROUP) CO., LTD. 
