- RECHI 4/17 Board of Directors Meeting Resolutions
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- 2023-04-17
RECHI today held a meeting of the Board of Directors, which passed the following resolutions:
Approve the disposal of 30% shareholdings of Jiangxi Baida Precision Manufacturing Co., Ltd. (hereinafter referred to as " Jiangxi Baida ") held by our subsidiary Rechi Holdings Co., Ltd. (hereinafter referred to as "Rechi Holdings"), with a transaction amount of RMB 83,252,697.59, and an expected disposal benefit of approximately US $1.34 million.
In 2018, our subsidiary Rechi Holdings and Zhejiang Baida Precision Co., Ltd. (hereinafter referred to as " Zhejiang Baida ") jointly established Jiangxi Baida, with Rechi Holdings holding 30% of the shares and Zhejiang Baida holding 70%. Due to its own industrial transformation and integration needs, Zhejiang Baida has acquired 30% shareholdings from our subsidiary Rechi Holdings.
Approve the disposal of 30% shareholdings of Jiangxi Baida Precision Manufacturing Co., Ltd. (hereinafter referred to as " Jiangxi Baida ") held by our subsidiary Rechi Holdings Co., Ltd. (hereinafter referred to as "Rechi Holdings"), with a transaction amount of RMB 83,252,697.59, and an expected disposal benefit of approximately US $1.34 million.
In 2018, our subsidiary Rechi Holdings and Zhejiang Baida Precision Co., Ltd. (hereinafter referred to as " Zhejiang Baida ") jointly established Jiangxi Baida, with Rechi Holdings holding 30% of the shares and Zhejiang Baida holding 70%. Due to its own industrial transformation and integration needs, Zhejiang Baida has acquired 30% shareholdings from our subsidiary Rechi Holdings.