Beijing Jingcheng Machinery Electric Co Ltd Class H (HK:0187) has released an update.
Beijing Jingcheng Machinery Electric Co. Ltd. has approved a connected transaction involving the acquisition of three sets of precision numerical control machine tools for RMB 3.5 million from its controlling shareholder’s subsidiary, BYJC. This move, aimed at fulfilling the subsidiary Tianhai Industry’s daily production needs, complies with the pertinent stock exchange rules and does not require a general shareholder meeting for consideration. The supervisory committee unanimously passed the resolution, emphasizing the legal and truthful nature of the announcement.
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