According to news from Xintian Technology Co., Ltd., the company officially completed the acquisition of a 51% stake in Zhejiang Huali Liyuan Instrument Co., Ltd. recently.
Xintian Technology Completes Acquisition of Huali Liyuan Handover Ceremony According to the “Equity Transfer Agreement of Zhejiang Huali Liyuan Instrument Co., Ltd.â€, Xintian Technology and its Shenzhen-based innovative Tianwu Network Industry Fund Enterprise participated in the acquisition of 51% of HLHL through the transfer of equity. Equity, total investment of 15.3 million yuan. Among them, Xintian Technology holds a 23.23% stake in Holley Liyuan directly and indirectly.
Zhejiang Huali Liyuan Instrument Co., Ltd. is a subsidiary of the Holley Instrument Group specializing in R&D, production and sales of water meters. The main products are various types of ordinary water meter, IC card prepaid water meter, electronic remote water meter, GPRS wireless water meter, remote valve control water meter, wide range of high-precision large-caliber water meter and water-saving water meter and other products. Huali Liyuan has more than one hundred domestic water company customers, and exports to South America, Egypt, Indonesia, Bangladesh and other countries, has also accumulated some advantages of foreign customers. In the first half of 2016 and 2015, its operating income was RMB 18.06 million and RMB 48.55 million; its profit was RMB -22.34 million and RMB 111.77 million.
For the acquisition, Xintian Technology and Holley Technology stated that they will make full use of their advantageous resources and strengthen their alliances to improve the operating performance of the current state-owned water, electricity, gas, and heat business.
In addition, the strong overseas resources of Holley Technology can also help Xintian Technology expand overseas business, and Holley Liyuan can also rely on Xintian Technology's production advantages to reduce costs and increase profitability.
Xintian Technology Completes Acquisition of Huali Liyuan Handover Ceremony
Zhejiang Huali Liyuan Instrument Co., Ltd. is a subsidiary of the Holley Instrument Group specializing in R&D, production and sales of water meters. The main products are various types of ordinary water meter, IC card prepaid water meter, electronic remote water meter, GPRS wireless water meter, remote valve control water meter, wide range of high-precision large-caliber water meter and water-saving water meter and other products. Huali Liyuan has more than one hundred domestic water company customers, and exports to South America, Egypt, Indonesia, Bangladesh and other countries, has also accumulated some advantages of foreign customers. In the first half of 2016 and 2015, its operating income was RMB 18.06 million and RMB 48.55 million; its profit was RMB -22.34 million and RMB 111.77 million.
For the acquisition, Xintian Technology and Holley Technology stated that they will make full use of their advantageous resources and strengthen their alliances to improve the operating performance of the current state-owned water, electricity, gas, and heat business.
In addition, the strong overseas resources of Holley Technology can also help Xintian Technology expand overseas business, and Holley Liyuan can also rely on Xintian Technology's production advantages to reduce costs and increase profitability.
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