Shanghai Electric Group (HKG:2727, SHA:601727) unit Casting & Forging will purchase 2,637 units of production and operation equipment from Shanghai Electric Enterprise Development for 277.2 million yuan, a Sept. 27 bourse filing said.
The assets include bridge cranes, transformers, distribution cabinets, lathes, and heating furnaces among other things.
Shanghai Electric Enterprise Development is a unit of Shanghai Electric Holding Group, a controlling shareholder of Shanghai Electric Group.
Hong Kong- and China-listed shares of the company closed over 5% and 9% higher, respectively, on Monday.
Price (HKD): $1.75, Change: $+0.090, Percent Change: +5.42%
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