Guangdong Hongtu to sell 76% stake in Baolong Motors
2021-09-07 12:01:57 [Print]
On September 2rd, 2021, Guangdong Hongtu Technology (Holdings) Co., Ltd. (Guangdong Hongtu) announced that in order to further optimize the allocation of assets and resources, the company is planning to transfer its 76% equity at its subsidiary - Guangdong Baolong Motors Co., Ltd. (Baolong) - through open listing. The transfer price will be determined according to the filed appraisal result of Baolong's 76% equity.
Baolong Motors was founded in 2005, with businesses covering research and development, manufacture and sales of series of cash truck, special vehicles, special industry vehicles, new energy electric vehicles and other vehicles. Guangdong Hongtu acquired 60% shares of Baolong in 2016 and Guangdong Hongtu currently owns 76% stake in Baolong.
Baolong Motors was founded in 2005, with businesses covering research and development, manufacture and sales of series of cash truck, special vehicles, special industry vehicles, new energy electric vehicles and other vehicles. Guangdong Hongtu acquired 60% shares of Baolong in 2016 and Guangdong Hongtu currently owns 76% stake in Baolong.
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