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Taiyuan Heavy acquires Xiangming, parent offers profit guarantee

June 26, 2025 at 08:04 PM UTCBy FilingReader AI

Taiyuan Heavy Industry (SSE: 600169) announced a supplementary agreement concerning its acquisition of a 67% equity stake in Taiyuan Heavy Industry Xiangming Intelligent Equipment Co., Ltd. The parent company, Taiyuan Heavy Machinery Group, is providing a profit guarantee for Xiangming during the period of 2025-2027. The guaranteed cumulative net profit attributable to the parent of Xiangming is CNY 139,810,900. If the actual cumulative net profit falls short, Taiyuan Heavy Machinery Group will compensate Taiyuan Heavy Industry with a cash payment proportional to the 51% stake it is selling. The estimated net profits attributable to the parent are CNY 41,931,900 in 2025, CNY 45,726,100 in 2026, and CNY 52,152,900 in 2027.

This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com

SSE:600169Shanghai Stock Exchange
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