---
title: "SHANGFENG CEMENT's subsidiary plans to sign an equity and debt transfer agreement regarding SHANGFENG ZETH"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/249759305.md"
description: "SHANGFENG CEMENT announced that its wholly-owned subsidiary, SHANGFENG Building Materials, intends to sign a share and debt transfer agreement with Zhejiang Water Co., Ltd. and other related parties. According to the agreement, SHANGFENG Building Materials will transfer its debt principal and interest of 211 million yuan for SHANGFENG ZETH to Zhejiang Water Co., Ltd. for 90 million yuan, while ZETH International will transfer its 58% equity stake in SHANGFENG ZETH to Zhejiang Water Co., Ltd. for 10,000 som. This move aims to properly address shareholder qualification disputes and asset rights issues"
datetime: "2025-07-23T11:36:03.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/249759305.md)
  - [en](https://longbridge.com/en/news/249759305.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/249759305.md)
---

# SHANGFENG CEMENT's subsidiary plans to sign an equity and debt transfer agreement regarding SHANGFENG ZETH

According to the Zhitong Finance APP, Shangfeng Cement (000672.SZ) announced that in order to properly handle the disputes regarding shareholder qualifications and the asset rights of shareholders in the joint venture, as well as to thoroughly resolve various project issues and obstacles, and in conjunction with adjustments to the company's strategic planning, all parties involved have reached a friendly consensus. The wholly-owned subsidiary Shangfeng Building Materials intends to sign an equity and debt transfer agreement regarding Shangfeng ZETH with Zhejiang First Hydropower Construction Group Co., Ltd. (hereinafter referred to as "Zhejiang Water"), ZETH International, and relevant parties including Zhu Rongjun, Shangfeng ZETH, ZETH Cement Co., Ltd. (hereinafter referred to as "ZETH Cement"), European Concrete Co., Ltd. (hereinafter referred to as "European Concrete"), ZETH New Standards Co., Ltd. (hereinafter referred to as "ZETH New Standards"), Zhejiang Zhejiang Water New Energy Co., Ltd. (hereinafter referred to as "Zhejiang Water New Energy"), and Zhejiang Jiangneng Construction Co., Ltd. (hereinafter referred to as "Jiangneng Construction").

Among them, Shangfeng Building Materials intends to transfer all its principal and interest claims against Shangfeng ZETH, totaling RMB 211 million, to Zhejiang Water for RMB 90 million as stipulated in the transfer agreement; at the same time, ZETH International will transfer 58% of its registered equity in Shangfeng ZETH to Zhejiang Water for 10,000 Som (approximately RMB 820 in total); Zhejiang Water agrees to acquire 58% of the equity in Shangfeng ZETH and all claims of Shangfeng Building Materials against Shangfeng ZETH at the aforementioned price due to the needs of its overseas business development

### Related Stocks

- [000672.CN](https://longbridge.com/en/quote/000672.CN.md)

## Related News & Research

- [Victory Outdoor Services: Fresh concrete mishap](https://longbridge.com/en/news/287100198.md)
- [Insta360’s Mic Pro uses a three microphone array for improved recordings](https://longbridge.com/en/news/287081979.md)
- [I asked ChatGPT to explain the Consumer Price Index like I am 12 — what I learned could save you money](https://longbridge.com/en/news/286669087.md)
- [ValOre Provides Further Update on Sale of Hatchet Uranium Corp. to Future Fuels Inc.](https://longbridge.com/en/news/286968775.md)
- [Market Chatter: NATO Discussing Hormuz Deployment to Help Guide Ships](https://longbridge.com/en/news/286930669.md)