Harbin Electric Subsidiary Secures New Assets

Harbin Electric Co. Ltd. Class H (HK:1133) has released an update.

Harbin Electric Co. Ltd. subsidiary Boiler Company has entered into a deal with Haguo Industrial to acquire property and land use rights for RMB51,975,000. The transaction involves the Haguo Hotel’s property in Harbin and is considered a connected transaction under the Listing Rules, exempt from requiring independent shareholder approval as it falls below the 5% threshold.

For further insights into HK:1133 stock, check out TipRanks’ Stock Analysis page.