Weichai Power Dominates a German Listed Company

www.chinaspv.com: Weichai Power gets the domination of Kion Group, the listed company in Germany according to the bulletin issued by Weichai Power Co.,Ltd. (Weichai Power for short) on 12 June. As for that, the company proceeds resumption on 13 June after one day’s suspension.

With the participation of Weichai Power (Luxembourg) Holding Company, Weichai Power makes the achievement mentioned above, which is the fully owned auxiliary company of Weichai Power and holds the shares of 33.3% of Kion Group with IPO in Frankfurt Stock Exchange .

The bulletin says Weichai Power received the notification from Superlift, the proceeding No.1 shareholder of Kion Group that its existing shares reduce from 34.5% to 26.9% that day while the shares of Weichai Power grow to 33.3%, available to the biggest shareholder of the Group.

Weichai Power will integrate Kion Group in its financial report in accordance with the related regulation and then the combined assets and revenues of Kion Group both exceed 50% of that of Weichai Power. Therefore, the consolidated statement will affect Weichai Power in the respect of profitability indexes such as gross profit rate and profit ratio.
 

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