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Double Arrow holds Huanneng Transmission with 65 million yuan

Time2020-06-02     AuthorHUAANTIREReserved

On April 7, Shuangjian announced that in order to accelerate the development of its main business, the company plans to purchase 55.99% and 24.01% shares of Zhejiang Huanneng Transmission Technology Co., Ltd. (hereinafter referred to as "Huanneng Transmission") held by Sanlux and Fengyi Venture Capital respectively with 41.9912 million yuan and 18.088 million yuan. After the completion of this transaction, the company will hold 80% equity of Huanneng Transmission, which will be included in the scope of the company's consolidated statements.

Double Arrow said that after holding Huanneng Transmission, the company will use its own technology, management, sales and other advantages to improve its conveyor belt output, which will be conducive to the company's sustainable development, enhance the company's comprehensive competitiveness and create greater value for shareholders. Double Arrow has been engaged in the research and development, manufacturing and sales of conveyor belt for a long time. Relying on stable product quality, high brand awareness and good reputation, it has been highly recognized by customers at home and abroad. It has been listed as one of the top 10 enterprises in China's conveyor belt industry by CRIA Rubber Hoses & Belt Branch for 9 consecutive years.


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