3 stories mentioning SHA:688308Updated 9d ago
Every FINWIRES story that references SHA:688308, newest first.
OKE Precision Cutting Tools (SHA:688308) established wholly-owned subsidiary Zhejiang Ouren with a registered capital of 10 million yuan, with the business license obtained from the Haining regulator.Zhejiang Ouren focuses on machine and cutting tool manufacturing, according to a weekend filing with the Shanghai bourse.Shares of the cutting tools maker closed 3% higher Monday.
OKE Precision Cutting Tools (SHA:688308) plans to acquire a 51% controlling stake in Yongxin Precision via equity purchases and a capital increase.Shareholders participating in the performance commitment and earn-out agreement will transfer 17.88% of their equity interest at a valuation of 629 million yuan, while shareholders not participating in the performance commitment and earn-out agreement will transfer 4% of their equity interest at a valuation of 400 million yuan.The company will transfer 15.62% of its equity at a valuation of 100 million yuan, for a total transaction consideration of 175 million yuan.Simultaneously, OKE Precision Cutting Tools will increase its capital in the target company by 250 million yuan, acquiring a 26.32% holding.Shares of the cutting tools maker closed less than 2% higher Thursday.
Chinese equities were mixed, almost flat, as sentiment over the crackdown on illegal cross-border securities trading waned.The Shanghai Composite Index slipped 0.2, or 7.2 points, to finish Tuesday's trade at 4,145.37. The Shenzhen Component Index marginally rose to 15,876.16.Beijing tightened its crackdown on illicit cross border investing, imposing fines on three securities brokers --- Tiger Brokers, Futu Securities and Changqiao Securities --- that operated without proper approvals.In corporate news, Xingyun Technology (SHE:300209) slumped 11.8% amid unit's plan to sell enterprise-grade SSD drives to Zhejiang Shenhu Technology for 321.8 million yuan.Tongding Interconnection Information (SHE:002491) dropped 7.8% after naming Bai Xiaoming vice chairman.OKE Precision Cutting Tools (SHA:688308) jumped 5.9% despite GEM (SHE:002340) announcing it will dispose of its 5.5% holdings in the CNC cutting tool maker.
