ST Haihua: Subsidiary Mangya Yuanxin Energy, under control, plans to acquire 51% equity of Ruoqiang Yuanxin Energy for 4.2211 million yuan.
ST Haihua announcement, a holding subsidiary, Mangya Yuanxin Energy Co., Ltd., plans to acquire 51% equity of Ruqiang Yuanxin Energy Co., Ltd. held by Xinjiang Qingyuan Industrial Group Co., Ltd. for 4.2211 million yuan in cash. This transaction constitutes a related party transaction, but does not constitute a major asset restructuring. After the transaction is completed, Ruqiang Yuanxin Energy will become a subsidiary of Mangya Yuanxin Energy, Mangya Yuanxin Energy will appoint two directors to serve on the board of Ruqiang Yuanxin Energy, and appoint a financial personnel to serve as the financial responsible for Ruqiang Yuanxin Energy.
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