Recently, Foton Motor (600166) decided to invest approximately 130 million yuan to acquire approximately 130 million shares of Beijing Foton Cummins Engine Co., Ltd., which is held by Beijing Foton Environmental Protection Co., Ltd. The above transaction is based on the initial investment amount of environmental protection power, which is 1 yuan per share. After the acquisition is completed, Foton Motor Co., Ltd. will hold a 50% stake in the engine company. The registered capital of the engine company is approximately RMB 1 billion. The business scope includes the production of diesel engines and their components and sales of self-produced products. Taking December 31, 2007 as the evaluation base date, the engine company's assets have an estimated value of approximately 380 million yuan, the estimated value of the debt is approximately 23,000 yuan, and the estimated value of the net assets is approximately 150 million yuan. Foton Motor said that the acquisition will integrate automotive production resources, enhance the company's control over the joint venture company, improve management efficiency, reduce management costs and transaction costs, increase investment efficiency. After the acquisition is completed, Foton Motors will assume a loss of 38.01 million yuan in the engine company in 2008, but it will increase the profit of Foton Motor by approximately 2.16 billion yuan from 2009 to 2015. Xgma Excavating Machinery,Excavating Machinery,Small Excavation Equipment,Tamping Or Excavating Machinery Inner Mongolia Mengkai Import and Export Trading Co.,Ltd. , https://www.mkheavytruck.com
December 31, 2022