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Hongda Electronics: Plans to acquire the minority shareholders' equity of its controlling subsidiaries Hongda Magnetoelectric and Hongda Hengxin

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Mars Finance News: On June 17, Hongda Electronics issued an announcement stating that Zhuzhou Hongda Magnetic and Electrical Technology Co., Ltd. (referred to as “Hongda Magnetic and Electrical”) and Zhuzhou Hongda Hengxin Electronics Co., Ltd. (referred to as “Hongda Hengxin”) are both company-controlled subsidiaries. Chen Siming is one of the minority shareholders of the above companies and respectively holds 49.8 million shares of equity in Hongda Magnetic and Electrical (accounting for 1.51% of Hongda Magnetic and Electrical’s registered capital) and 200 million shares of equity in Hongda Hengxin (accounting for 2.5% of Hongda Hengxin’s registered capital). Chen Siming has now transferred all of his shares in Hongda Magnetic and Electrical and Hongda Hengxin to Hongda Electronics. The transfer prices are 369.86 million yuan and 387.2 million yuan, respectively. (Company Announcement)
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