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XCMG is listed as a whole! The largest-ever acquisition and merger in China's equipment manufacturing industry has accomplished!

acquisition

XCMG is listed as a whole! The largest-ever acquisition and merger in China’s equipment manufacturing industry has accomplished!

On July 8, Xuzhou Construction Machinery Group Co., Ltd. (000425.SZ) issued an announcement that the company received the “Approval of XCMG Construction Machinery Co., Ltd.’s issuance of shares to Xuzhou Construction Machinery Group Co., Ltd. and other companies to acquire and merge with XCMG Construction Machinery Co., Ltd.”, issued by China Securities Regulatory Commission. Co., Ltd.’s Reply”, which approved the company to issue shares to acquire and merge with XCMG Construction Machinery Co., Ltd.

XCMG is listed as a whole! The largest-ever acquisition and merger in China’s equipment manufacturing industry has accomplished!

According to the plan, Xuzhou Construction Machinery Group Co., Ltd. will acquire and merge with the related party, XCMG Construction Machinery Co., Ltd. at a price of 38.686 billion Yuan. After the transaction is completed, the asset, including excavation machinery, concrete machinery, mining machinery, tower cranes and others, will be injected into the listed company as a whole.

XCMG is listed as a whole! The largest-ever acquisition and merger in China’s equipment manufacturing industry has accomplished!

The approval of the overall listing by the China Securities Regulatory Commission marks the substantial success of the reorganization. This transaction is the largest acquisition and merger transaction in China’s equipment manufacturing industry so far, and a model of reform and innovation for state-owned enterprises to embrace the capital market; this transaction is also a continuation of mixed ownership restructuring of XCMG Construction Machinery Co., Ltd., and an important embodiment of continuingly deepening the reform of state-owned enterprises.

XCMG is listed as a whole! The largest-ever acquisition and merger in China’s equipment manufacturing industry has accomplished!

After the overall listing, Xuzhou Construction Machinery Group Co., Ltd. (000425.SZ) will focus more on construction machinery and key components, be more market-oriented, issue a unified financial report to the world, and eventually make the great dream of reaching the industry Mount Everest come true!

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