Gelonghui, January 23, 丨 Chongqing Electromechanical (02722.HK) announced that on January 23, 2024, the company (as the transferee), IFAD (as the transferee) and Air Pressure Company (as the target company) signed an equity transfer agreement. Based on this, IFAD agreed to sell and the company agreed to acquire 35.79% of the shares of Air Pressure Company held by IFAD, at a purchase price of RMB 67 million. Once the acquisition is completed, Air Pressure will become a wholly-owned subsidiary of the company.

Chongqing Gas Compressor Factory Co., Ltd. (“Air Pressure Company”) is a limited liability company registered in China in March 1996. As of the date of this announcement, its registered capital was RMB 18,7213,860 million. It is mainly engaged in gas compressor and parts manufacturing, mechanical and electrical equipment installation engineering, production and manufacturing: liquefied natural gas equipment; sales of gas, liquid separation and purification equipment; sales of station hydrogenation and hydrogen storage facilities.