Changhong Meiling to Buy Hefei Changhong Industrial for 375 Million Yuan

MT Newswires Live

2024/10/14

Changhong Meiling (SHE:000521, SHE:200521) plans to acquire Hefei Changhong Industrial for 375 million yuan, according to a Sunday disclosure on the Shenzhen Stock Exchange.

The Chinese appliance manufacturer will buy the 99% stake from Sichuan Changhong Electric and, through subsidiary Hefei Meiling IoT Technology, the 1% stake will be bought from Sichuan Changhong Innovation Investment.

Hefei Changhong Industrial's book assets totaled 255.7 million yuan, with an assessed value of 395.8 million yuan. Its real estate has an assessed value of 322 million yuan, the disclosure noted.

Both A and B shares of the company rose more than 3% at the close.

Price (RMB): Â¥9.41, Change: Â¥+0.31, Percent Change: +3.41%

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