Industrials Jul 02, 2020 02:42 PM (GMT+8) · EqualOcean
XCMG Machine(徐工机械) has announced that it is planning to invest CNY 5.1 billion to set up a merger and acquisition fund in the industrial field. The total scale of this fund is CNY 10.01 billion, and it will be utilized to promote the firm's high-quality development. China Innovative Capital Management Limited (中新融创资本管理有限公司) is supposed to be the manager of this merger and acquisition fund, and its significant shareholder is TCL. Further, XCMG is triggering the reform toward a mixed system.
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