Airport high-tech park to acquire Tianli Power Heating for $10.5M

Beijing Airport High-Tech Park (SSE:600463) announced progress in its acquisition of Beijing Tianli Power Heating Co., Ltd. The target company's net asset value has been appraised at 74.42 million yuan (approximately $10.5 million USD) as of September 30, 2024, by Beijing Tianjian Xingye Assets Appraisal Co., Ltd. This valuation, which represents a 14.91% increase over the book value, has been approved by the Shunyi District State-owned Assets Supervision and Administration Commission. The acquisition, previously approved by Airport High-Tech Park's board, is a related-party transaction. The final transaction price and closing are subject to shareholder approval and customary closing conditions. The company will continue to disclose updates as the acquisition progresses.