Zhejiang HuayePower Engineering Corp planned to sell a 2.8838-percent stake in the Zhejiang Tiandi Environmental Protection Engineering Co. Ltd for about 11.78 million yuan, according to the Shanghai United Assets and Equity Exchange on Monday.
Founded in 2002 with a registered capital of 100 million yuan, Zhejiang Tiandi Environmental Protection Engineering Corp is engaged mainly in EPC of environmental protection projects, R&D of environmental protection products and technologies, design of power engineering and others.
In 2014, Tiandi Environmental Protection Engineering saw its operating revenue and net profits stand at 1.39 billion yuan and 85.77million yuan, respectively.
By the end of August this year, its operating revenue and net profits amounted to 920 million yuan and 76.03 million yuan, respectively.
By the base date of assets evaluation (September 30, 2014), the company's assets totaled 1.03 billion yuan.
The seller required a corporate buyer who must earn continuous profits in the recent three fiscal years with its net assets not lower than 30 million yuan. United buyers are not accepted.
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