Understanding the Market | HUAZHONG IN-V rose over 5% in the morning, the company plans to increase its stake in Ningbo Hualete Automotive Decoration by 15%
HUAZHONG IN-V rose over 5% in the morning, and as of the time of writing, it has increased by 4.1%, trading at HKD 0.203. In terms of news, HUAZHONG IN-V announced plans to acquire a 15% stake in Ningbo Hualete Automotive Decoration for a cash consideration of EUR 4.5 million, which will be funded through internal resources. According to the announcement, the equity of the target company is valued at CNY 230 million as of October 31, 2024, with the market value of the 15% stake being CNY 34.54 million. It is reported that Ningbo Hualete Automotive Decoration primarily engages in the manufacturing and sales of automotive parts, as well as the design and production of high-end textiles. Upon completion of the acquisition, the buyer and seller will hold 80% and 10% of the total equity, respectively. This acquisition will help improve the company's decision-making efficiency, reduce operational costs, and align with the overall interests of the company and its shareholders
According to the Zhitong Finance APP, HUAZHONG IN-V (06830) rose more than 5% in the morning, and as of the time of writing, it is up 4.1%, trading at HKD 0.203.
In terms of news, HUAZHONG IN-V announced plans to acquire a 15% stake in Ningbo Hualete Automotive Decoration for a cash consideration of EUR 4.5 million, which will be funded through internal resources. According to the announcement, the equity of the target company is valued at CNY 230 million as of October 31, 2024, with the 15% stake valued at CNY 34.54 million.
It is reported that Ningbo Hualete Automotive Decoration mainly engages in the manufacturing and sales of automotive parts, as well as the design and manufacture of high-end textiles. After the completion of the acquisition, the buyer and seller will hold 80% and 10% of the total equity, respectively. This acquisition will help improve the company's decision-making efficiency, reduce operating costs, and align with the overall interests of the company and its shareholders
