TIANGONG INT'L (00826.HK): Subsidiary to Acquire About 48.42% of Zuoneng Precision Engineering for RMB 46 Million
- All applicable percentage ratios in respect of the total transfer and subscription amounts are less than 5%, so the memorandum is not subject to the reporting, announcement and shareholders' approval requirements under Chapters 14 and 14A of the Listing Rules.
NewTimeSpace News: On 15 September 2026, Tiangong International Company Limited (stock code: 00826.HK) announced on a voluntary basis that Jiangsu Tiangong Cemented Carbide Technology Co., Ltd., an indirect subsidiary of the Company, entered into an equity co-operation memorandum with Henan Zuoneng Precision Engineering Co., Ltd. and its four original shareholders, under which Tiangong Cemented Carbide will acquire an aggregate of approximately 48.42% of the equity interest in Zuoneng Precision Engineering from the original shareholders for a total consideration of RMB 46,000,000, and will further subscribe for new equity in Zuoneng Precision Engineering for RMB 5,000,000, taking its shareholding to 51.00% of the enlarged registered capital of Zuoneng Precision Engineering.
The announcement disclosed that upon completion of the equity transfer, Tiangong Cemented Carbide will hold 48.42%, with Sun Weixing, Li Dawei, Li Ziliang and Liu Guoqing holding 36.11%, 7.74%, 4.38% and 3.35% respectively; upon completion of the equity subscription, Tiangong Cemented Carbide's shareholding will increase to 51.00%, with the four original shareholders' holdings diluted to 34.30%, 7.35%, 4.16% and 3.19% respectively.
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