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Guangdong Shenling Environmental Purchases Entire Stake in Second-Level Subsidiary; Shares Slide 4%

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Guangdong Shenling Environmental Systems (SHE:301018) will purchase the entire stake in second-level subsidiary Tianjin Shenling HVAC Equipment for 7.2 million yuan, according to an after-market filing on Wednesday with the Shenzhen bourse.

Tianjin Shenling HVAC Equipment is a subsidiary of Guangdong Shenling Commercial Air Conditioning Equipment, a subsidiary of the listed company.

The target company manufactures and repairs refrigeration and air conditioning equipment. It will become a direct subsidiary of the listed firm.

Shares fell 4% during the midday break on Thursday.

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Guangdong Shenling Environmental Purchases Entire Stake in Second-Level Subsidiary; Shares Slide 4% | FINWIRES