Yunnan International Trust Co., Ltd. completed the acquisition of 5% stake in Zhejiang Tiancheng Controls Co., Ltd. from Zhejiang Tiancheng Tech-Investment Co., Ltd., Chen Angyang and Tiantai Zhongcheng Investment Center.
July 10, 2024
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Yunnan International Trust Co., Ltd. agreed to acquire 5% stake in Zhejiang Tiancheng Controls Co., Ltd. (SHSE:603085) from Zhejiang Tiancheng Tech-Investment Co., Ltd., Chen Angyang and Tiantai Zhongcheng Investment Center for approximately CNY 160 million on June 11, 2024. A cash consideration valued at CNY 8.271 per share will be paid by Yunnan International Trust Co., Ltd.
Yunnan International Trust Co., Ltd. completed the acquisition of 5% stake in Zhejiang Tiancheng Controls Co., Ltd. (SHSE:603085) from Zhejiang Tiancheng Tech-Investment Co., Ltd., Chen Angyang and Tiantai Zhongcheng Investment Center on July 11, 2024. After the agreement transfer, Zhejiang Tiancheng Tech-Investment Co., Ltd. holds 156,860,266 shares (39.5% stake) of Zhejiang Tiancheng, while Tiantai Zhongcheng Investment Center (Limited Partnership) and Chen Angyang shall not have any of Zhejiang Tiancheng?s shares anymore. Yunnan International Trust Co., Ltd., on the other hand, holds 19,855,000 shares (5% stake) of Zhejiang Tiancheng.
Zhejiang Tiancheng Controls Co., Ltd. is engaged in the research, manufacture and sale of vehicle seats. Its products include construction machinery seats, seats for commercial vehicles, farm machinery seat, garden machinery seats, seat rail vehicles, mine car seats, water transport seats, among others.
Yunnan International Trust Co., Ltd. completed the acquisition of 5% stake in Zhejiang Tiancheng Controls Co., Ltd. from Zhejiang Tiancheng Tech-Investment Co., Ltd., Chen Angyang and Tiantai Zhongcheng Investment Center.
ZHEJIANG TIANCHENG CONTROLS CO., LTD. 
