Jiangsu Zongyi Unit Acquiring Majority Stake in Environmental Protection Equipment Company; Shares Down 4%

MT NewswiresNov 14 14:31

Jiangsu Zongyi (600770.SH): Subsidiary Jiangsu Zongyi Photovoltaic plans to invest 14 million yuan in XJP Environmental Protection.

On November 13, GeLonghui reported that Jiangsu Zongyi (600770.SH) announced that based on the company's development global strategy and operation plan, it will promote the company to seek external development grounded in its existing new energy business, further expanding the business and revenue scale, and developing new profit growth points. The company's wholly-owned subsidiary, Zongyi Photovoltaic, signed the "Equity Transfer and Capital Increase Agreement regarding Jiangsu Xinju Eco-friendly Concept Technology Co., Ltd." on November 13, 2024, with Yang Suchuan, Wu Tiantian, Nantong Juye Enterprise Management Center (Limited Partnership), Nantong Jinjiu Huitong Phase 5 Venture Capital Fund Partnership (Limited Partnership), and Jiangsu Xinju Eco-friendly Concept Technology Co., Ltd.

Gelonghui FinanceNov 13 18:13

Express News | Jiangsu Zongyi: Subsidiary Jiangsu Zongyi Photovoltaic plans to invest 14 million yuan in the new Poly Ring Eco-friendly Concept to acquire 50.45% of its equity.

BreakingsNov 13 18:12

Express News | Jiangsu Zongyi: The company's production operation is normal.

BreakingsNov 4 17:28

Jiangsu Zongyi (600770.SH): is planning a cash acquisition of equity transaction, the target of the transaction belongs to the eco-friendly concept industry.

On October 21, Gelonghui announced an abnormal fluctuation in the stock trading price of Jiangsu Zongyi (600770.SH). The company is planning a transaction to acquire equity with cash, with the target symbol being in the eco-friendly industry, relatively small in scale. In 2023, the company's revenue is expected to be no more than 0.1 billion yuan (unaudited). It is anticipated that this transaction will not constitute a significant asset restructuring as stipulated in the Measures for the Administration of Major Asset Restructuring of Listed Companies. Currently, the company is conducting an investigation and analysis of the target symbol, and the specific transaction is subject to further communication, negotiation, and internal justification with the target party. No party has signed any transaction-related agreements yet.

Gelonghui FinanceOct 21 19:49

Express News | Jiangsu Zongyi: There is still uncertainty in the cash acquisition of equity trade.

BreakingsOct 21 19:49