It is reported that Tianjin Good Hand Railway Holding Co Ltd planned to acquire 60% stocks of Jiangxi Tongheng Industrial Co Ltd at CNY 24.71 million. Meanwhile, the company also intended to issue a capital increment on Hengtong Industrial Co Ltd that is to say, the registered capitals of the latter have modified to CNY 100 million with the former holding 90% stocks.
As per report, Hengtong Industrial Co is majored in domestic steel trade business, achieving primary business incomes of CNY 94.49 million in 2009 with the nets reaching CNY 7.05 million. And Tianjin Good Hand Railway disclosed that the 09 non-public railway projects were still on the construction which was hard to eye performance growth in a short run. So, it hoped to further broaden its inner business through the acquisition to attain new growth points.
