Ye Gongle signed an agreement to acquire Xinjiang Huatie Hengan Construction Safety Technology Co., Ltd from Zhejiang Huatie Construction Safety Science and Technology Co., Ltd. and Hangzhou Yuming Construction Equipment Co., Ltd. for CNY 59.8 million.
January 14, 2019
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Ye Gongle signed an agreement to acquire Xinjiang Huatie Hengan Construction Safety Technology Co., Ltd from Zhejiang Huatie Construction Safety Science and Technology Co., Ltd. (SHSE:603300) and Hangzhou Yuming Construction Equipment Co., Ltd. for CNY 59.8 million on January 14, 2019. Zhejiang Huatie Construction Safety Science and Technology Co., Ltd. will sell 99.5% stake and Hangzhou Yuming Construction Equipment Co., Ltd. will sell 0.5% stake in Xinjiang Huatie Hengan Construction Safety Technology Co., Ltd. Xinjiang Huatie Hengan Construction Safety Technology Co., Ltd. reported total assets of CNY 131.07 million and net assets of CNY 59.75 million as at December 31, 2017. Xinjiang Huatie Hengan Construction Safety Technology Co., Ltd. reported revenues of CNY 72.49 million and net loss of CNY 110.25 million in 2018. The transaction is subject to approval of shareholders of Zhejiang Huatie Construction Safety Science and Technology Co., Ltd. The Board of Directors of Zhejiang Huatie Construction Safety Science and Technology Co., Ltd. approved the transaction on January 14, 2019.
Zhejiang Huatie Emergency Equipment Science & Technology Co., Ltd, formerly Zhejiang Huatie Construction Safety Science And Technology Co., Ltd., is a China-based company principally engaged in the rental of safety gear and equipment for the construction industry. The Company's rented supporting equipment includes steel support series products, bailey series products and scaffold series products, among others. Its supporting equipment is applied in the construction of projects like urban mass transit, traffic bridges and civil architecture, among others. The Company conducts its businesses within domestic market.
Ye Gongle signed an agreement to acquire Xinjiang Huatie Hengan Construction Safety Technology Co., Ltd from Zhejiang Huatie Construction Safety Science and Technology Co., Ltd. and Hangzhou Yuming Construction Equipment Co., Ltd. for CNY 59.8 million.
ZHEJIANG HUATIE EMERGENCY EQUIPMENT SCIENCE & TECHNOLOGY CO.,LTD. 
