---
title: "XINXING PIPES: Plans to purchase 10% equity in its controlling subsidiary Fukang Energy for 151 million yuan"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/262894421.md"
description: "XINXING PIPES announced that it plans to purchase a 10% equity stake in its controlling subsidiary Fukang Energy for a transaction price of 151 million yuan. Upon completion of this transaction, Fukang Energy will become a wholly-owned subsidiary of the company. This transaction has been approved by the fifteenth meeting of the company's tenth board of directors and does not require submission for shareholder meeting approval"
datetime: "2025-10-27T12:08:21.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/262894421.md)
  - [en](https://longbridge.com/en/news/262894421.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/262894421.md)
---

> Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/262894421.md) | [繁體中文](https://longbridge.com/zh-HK/news/262894421.md)


# XINXING PIPES: Plans to purchase 10% equity in its controlling subsidiary Fukang Energy for 151 million yuan

XINXING PIPES announced that it plans to purchase a 10% equity stake in its controlling subsidiary Fukang Energy for a transaction price of 151 million yuan. After the completion of this transaction, Fukang Energy will become a wholly-owned subsidiary of the company. This transaction has been approved by the fifteenth meeting of the company's tenth board of directors and does not require submission for shareholder meeting approval

### Related Stocks

- [XINXING PIPES (000778.CN)](https://longbridge.com/en/quote/000778.CN.md)

## Related News & Research

- [Key facts: UniCredit's Russian unit faces €444M lawsuit; Shareholders’ Meeting set for March 2026](https://longbridge.com/en/news/277267393.md)
- [Energy Technologies widens half-year loss as revenue halves amid restructuring](https://longbridge.com/en/news/277129050.md)
- [CLP Holdings Clarifies Finance & General Committee’s Oversight Role](https://longbridge.com/en/news/277132947.md)
- [BUZZ-NextEra Energy edges up after $2 bln mandatory convertible sale](https://longbridge.com/en/news/277203948.md)
- [Is Capital Power’s New CFO Signaling a Shift in Strategic Finance Priorities for (TSX:CPX)?](https://longbridge.com/en/news/277273433.md)