Shanghai Qiaoying Enterprise Management Center (Limited Partnership) cancelled the acquisition of 5% stake in Zhejiang Zhongjian Technology Co.,Ltd from Zhongjian Electromechanical Group Co., Ltd
November 07, 2022
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Shanghai Qiaoying Enterprise Management Center (Limited Partnership) signed a share transfer agreement to acquire 5% stake in Zhejiang Zhongjian Technology Co.,Ltd (SZSE:002779) from Zhongjian Electromechanical Group Co., Ltd for approximately CNY 140 million on February 28, 2022. Shanghai Qiaoying Enterprise Management Center (Limited Partnership) agree to acquire 6.6 million shares at CNY 21.67 per share.
Shanghai Qiaoying Enterprise Management Center (Limited Partnership) cancelled the acquisition of 5% stake in Zhejiang Zhongjian Technology Co.,Ltd (SZSE:002779) from Zhongjian Electromechanical Group Co., Ltd. on November 8, 2022. Shanghai Qiaoying Enterprise Management Center (Limited Partnership) has not paid Zhongjian Electromechanical the share transfer price, and both parties have not completed the relevant share transfer procedures. After friendly negotiation, both parties agreed to rescind the "Share Transfer Agreement", and both parties will not be liable for breach of contract.
ZHEJIANG ZHONGJIAN TECHNOLOGY CO., LTD. is a China-based company engaged in the research and development, design, manufacture and sale of garden machineries and portable digital generators. The Company's garden machineries include chain saws, hedge shearing machines, sitting type lawn mowers and brush cutters, among others, which are mainly used for landscaping planting, repairing and maintenance. The major generator product is portable digital generator, which is widely used for camping trips, family spare emergency powers, power communications equipment, precision instruments, commercial establishments, mobile construction and field operations, among others.
Shanghai Qiaoying Enterprise Management Center (Limited Partnership) cancelled the acquisition of 5% stake in Zhejiang Zhongjian Technology Co.,Ltd from Zhongjian Electromechanical Group Co., Ltd