Xingfa Aluminium Holdings to acquire 4% stake in Guangdong Province Trading
On December 21, 2022, the leading aluminium extrusion profile manufacturer in China, Xingfa Aluminium Holdings during filing has stated that it would acquire a 4 per cent equity interest in a Chinese service provider, Guangdong Province Trading Development, from Guangdong Guangxin Holding Group for RMB27.5 million.
Guangdong Guangxin Holdings Group Ltd. is a holding company for investments. Construction materials, mining, metallurgy, chemical engineering, mechanical and electrical equipment, food supply, modern logistics, and other fields are among the areas in which the company invests.
Guangdong Xingfa Aluminium Co., Ltd., is a company headquartered in Foshan, Guangdong. On March 31, 2008, Xingfa Aluminium, which began in 1984, was listed in Hong Kong.
Xingfa Aluminium is a famous large-scale enterprise specialising in producing architectural and industrial aluminium profiles in China, which has been among the leading manufacturers of aluminium profiles worldwide.
Following the completion of the transaction, Guangdong Guangxin will own 96 per cent of Guangdong Province Trading, while Xingfa's subsidiary will own 4 per cent.
Electrical appliances, fixtures, and accessories for the kitchen and bathroom are imported and exported by Guangdong Province Trading.
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