Hiconics Eco-Energy Subsidiary to Acquire 15% Stake in Meikang PV

Stock News

Sep 15

Hiconics Eco-Energy Technology Co.,Ltd. (300048.SZ) has announced that its wholly-owned subsidiary, Meikang Energy, has entered into a share transfer agreement with Wang Shizhen.

To support its long-term business development, Meikang Energy plans to use RMB 7.5 million of its own funds to acquire the 15% equity interest in Hefei Midea Hiconics Photovoltaic Technology Co., Ltd. (referred to as "Meikang PV") held by Wang Shizhen.

Prior to this transaction, the company held an 80% stake in Meikang PV through its wholly-owned subsidiary Meikang Energy. Upon completion of the transfer, the company's ownership in Meikang PV will rise to 95% through the same subsidiary.

Meikang PV will continue to be a controlled sub-subsidiary of the company, and the scope of the company's consolidated financial statements will remain unchanged.

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