Jinbei Auto subsidiary Tieling Huachen Rubber & Plastic 95% equity transfer terminated due to disagreement over net asset changes

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The listing and transfer of a 95% equity stake in Tieling Huachen Rubber & Plastic Products Co., Ltd., a subsidiary of Jinbei Auto, has been terminated after nearly nine months. Subsidiary Shenyang Jinchen Automotive Technology Development Co., Ltd. and the intended transferee Changchun Jitai Enterprise Management Consulting Co., Ltd. disagreed on the assumption, accounting, and attribution of changes in the target company's net assets from the audit base date to the expiration of the bidding announcement period. After negotiations, they could not reach an agreement, and both parties signed an Equity Termination Transaction Agreement. The intended transferee has received the relevant funds returned by the property rights exchange. Previously, the equity was priced at 10,001 yuan through the property rights exchange bidding system. Jinbei Auto stated that the relevant indicators of Tieling Huachen Rubber & Plastic account for less than 10% of the company's consolidated statements, and the termination of the transaction will not have a material impact on the company's main business, cash flow, or overall profitability. It will prudently decide on a subsequent exit plan.

Impact on assets 1

Others▲ · 1 stocks

Off-coverage companies 3

沈阳金晨汽车技术开发有限公司Private▼ Negative
Capitalrelevance

Failed to complete equity transfer of subsidiary due to disagreement, deal terminated.

铁岭华晨橡塑制品有限公司Private± Mixed
relevance

The target company's equity transfer was terminated; no material impact on its operations mentioned.

长春吉泰企业管理咨询有限公司Private± Mixed
relevance

As the intended transferee, the termination means the acquisition did not proceed; no further details.

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