Beijing Jingcheng Secures Major Stake in Shanghai Sunwise

Beijing Jingcheng Machinery Electric Co Ltd Class H (HK:0187) has released an update.

Beijing Jingcheng Machinery Electric Co. Ltd has successfully acquired a controlling interest in Shanghai Sunwise, with its wholly-owned subsidiary Jingcheng Industrial Investment becoming the largest shareholder at 39.77%. The acquisition, aimed at gaining actual control of Shanghai Sunwise, involves an investment of approximately RMB 590 million. This strategic move has also activated a product sale and purchase framework agreement between Beijing Tianhai Industry Co. Ltd, another subsidiary, and Shanghai Sunwise.

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