Gree group announced the acquisition of Changyuan group

On the evening of May 10, Changyuan Group (600525. SH) announced that Gree group launched a tender offer.

Announcement shows, Gree group, because of the long garden group of future prospects for development, decided to launch part of an offer to all shareholders, to effect a way to buy a majority stake in long garden group. This offer is not to end the long garden group listed status for the purpose. Due to the acquisition need access to Guangdong province Sasac in advance for the record, Gree group will offer report after the announcement in long garden group to the examination and approval of the state-owned assets supervision and administration department in accordance with the law. At present, the long garden group is in a suspended state.

Public information long garden group founded in 1986 for Li Ka-shing, subsidiaries and investment. But the long and investment gradually sell its shares in 2014, to evacuate long garden group. At present, the long garden group main business for the electric car related materials and other functional materials, intelligent factory equipment, intelligent power grid equipment.

In recent years, the long garden group fundamentals showed a increase. Results show that the 2015-2017, the business income is 4.162 billion yuan respectively, 5.849 billion yuan and 7.433 billion yuan.Net income of 483 million yuan, 640 million yuan and 1.136 billion yuan. It is important to note that the 2017 annual operating income and net profit are increased significantly, compared with the year on year growth of 27.08% and 27.08% respectively.

In fact, before the group purchase long garden group, Gree electric appliances (000651 SZ) chairman Dong Mingzhu had spent nearly two hundred million yuan investment in new energy automobile enterprises in Zhuhai Silver. Gree group it electric materials manufacturers long garden group, or will expand Gree channels of new energy vehicles. View, both under Dong Mingzhu, Gree electric appliances, and its largest shareholder group, are not far away from the building cars dream.

The page contains the contents of the machine translation.