COFCO Technology & Industry (301058.SZ) plans to acquire a 60% equity stake in Huashang Yiyuan for RMB 25.554 million.

COFCO Technology & Industry (301058.SZ) announced that the company plans to use its own funds to acquire a 60% equity stake in Beijing Huashang Yiyuan Refrigeration and Air Conditioning Engineering Co., Ltd. ("Huashang Yiyuan") held by Domestic Trade Engineering Design & Research Institute Co., Ltd., a wholly-owned subsidiary indirectly held 100% by COFCO Corporation, the actual controller, for a total consideration of RMB 25.554 million. Upon completion of the acquisition, the company will hold a 60% equity stake in Huashang Yiyuan, and Huashang Yiyuan will be included in the company's consolidated financial statements. It is reported that Huashang Yiyuan holds multiple professional qualifications, including Grade I General Contracting for Mechanical and Electrical Engineering Construction, Grade II Specialized Contracting for Building Mechanical and Electrical Installation Engineering, Grade II Specialized Contracting for Steel Structure Engineering, Grade II Specialized Contracting for Waterproof, Anti-corrosion and Thermal Insulation Engineering, Grade I Pressure Vessel Installation, GC2 Pressure Piping Installation, and GC2 Pressure Piping Design. Its qualification system is relatively comprehensive and can provide strong support for the company's business expansion. This transaction will help the company actively integrate the full industry chain layout of consulting and design, mechanical and electrical delivery, and equipment manufacturing, further enhance customer service capabilities, and improve its business matrix.