Beike Finance News from The Beijing News: On February 27, Zhongying Technology announced that the company and shareholders of Yingzhong Electric, Yu Yingzhong, Zhu Lijuan, and Yu Biao, signed an “Letter of Intent” on February 26. The plan is to acquire at least 51% of Yingzhong Electric’s shares with cash and gain controlling interest. After the transaction is completed, Yingzhong Electric will become a majority-owned subsidiary of the company and be included in the consolidated financial statements. The target company specializes in insulating fiber materials and their molded products, with products covering all voltage levels of power transmission and transformation equipment, including medium and low voltage, high voltage, ultra-high voltage, and extra-high voltage AC/DC devices.
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Zhongying Technology: Plans to acquire no less than 51% of shares in Yingzhong Electric
Beike Finance News from The Beijing News: On February 27, Zhongying Technology announced that the company and shareholders of Yingzhong Electric, Yu Yingzhong, Zhu Lijuan, and Yu Biao, signed an “Letter of Intent” on February 26. The plan is to acquire at least 51% of Yingzhong Electric’s shares with cash and gain controlling interest. After the transaction is completed, Yingzhong Electric will become a majority-owned subsidiary of the company and be included in the consolidated financial statements. The target company specializes in insulating fiber materials and their molded products, with products covering all voltage levels of power transmission and transformation equipment, including medium and low voltage, high voltage, ultra-high voltage, and extra-high voltage AC/DC devices.