Wuling Motors (00305.HK) announced on Thursday evening that on September 28, 2017 (after trading hours), Wuling Liuji, an indirect non-wholly owned subsidiary of the company, entered into a equipment purchase agreement with Anwar (Shanghai), according to which Wuling The Group has agreed to purchase and sell the equipment in accordance with the terms and conditions of the equipment purchase agreement. The net consideration is RMB 80,304,900 (excluding VAT) and the total consideration is RMB 94 million (including VAT). .
The announcement shows that the equipment to be procured is mainly a production line designated and installed for the production of a new type of automobile engine by Wuling Liuji, and a new type of automobile engine will be supplied to the passenger car of its customer.
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