Beijing Jingcheng Machinery Electric Co Ltd Class H (HK:0187) has released an update.
Beijing Jingcheng Machinery Electric Co Ltd has announced that its subsidiary, Beijing Tianhai, will acquire three sets of precision numerical control machine tools from BYJC, another subsidiary of the firm, for RMB3.50 million to satisfy its production demands. The connected transaction, which does not require independent shareholder approval, has been negotiated based on prevailing market prices and conditions, and the payment will be made using Beijing Tianhai’s own funds.
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