Huayu Auto announced that Huayu Automobile Systems Co., Ltd., a wholly-owned subsidiary of the company, plans to jointly fund the establishment of Huaxiang Sandman Automotive Systems Co., Ltd. with Shanxi Huaxiang Group Co., Ltd. Huayu Shanghai plans to share 100% of its shares in Huaxiang Sandman Automotive Systems Co., Ltd. at a price of approximately RMB 184 million; Huaxiang Co., Ltd. plans to co-invest about RMB 429 million in cash. Huayu Shanghai and Huaxiang Co., Ltd. will hold 30% and 70% of the shares in the joint venture, respectively.

Zhitongcaijing · 09/29 07:41
Huayu Auto announced that Huayu Automobile Systems Co., Ltd., a wholly-owned subsidiary of the company, plans to jointly fund the establishment of Huaxiang Sandman Automotive Systems Co., Ltd. with Shanxi Huaxiang Group Co., Ltd. Huayu Shanghai plans to share 100% of its shares in Huaxiang Sandman Automotive Systems Co., Ltd. at a price of approximately RMB 184 million; Huaxiang Co., Ltd. plans to co-invest about RMB 429 million in cash. Huayu Shanghai and Huaxiang Co., Ltd. will hold 30% and 70% of the shares in the joint venture, respectively.