It is reported that Huadian Energy plans to use CNY 160 million of its own capital to fully acquire a power equipment company, Heilongjiang Longdian Power Equipment owned by Longdian Group.

The target company which was founded in 1997 with a registered capital of CNY 10 million mainly produces and sells insulation tubes and power equipment. It recently diversified into the environmental protection field.

For the first nine months, the target company earned net profit of CNY 18.99 million on revenue of CNY 98.79 million.

(Sourced from Shanghai Securities News)