Wise Living Technology (HKG:2481) directors approved the purchase of energy-saving electromagnetic switch motors by three of the company's subsidiaries, according to a Friday filing with the Hong Kong Stock Exchange.
Subsidiaries Hulunbuir Shuangliang Energy System, Lanzhou New District Shuangliang Thermal Power, and Shuozhou City Renewable Energy Thermal each purchased 50 units of GPAC-35 energy-saving electromagnetic motors and 50 units of model BPAC-30 energy-saving electromagnetic switch motors at 30,000 yuan.
Each subsidiary paid a total of 3 million yuan for the motors, which will be delivered 35 days after the contract takes effect, the filing said.
The seller is Jiangsu Shuangliang Bangji Electronics, whose controlling shareholder is also a controlling shareholder of Wise Living.
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