Achievements | Zhonglun W&D Assists Zhejiang Titan in All-Cash Acquisition of 100% Equity in Xinjiang Yangtze River Textile Company

Zhonglun W&D Law Firm was engaged by Zhejiang Titan Co., Ltd. (stock abbreviation: Zhejiang Titan, stock code: 003036), a company listed on the main board, to provide comprehensive legal services for its acquisition of 100% equity in Xinjiang Yangtze River Textile Co., Ltd.. The transfer of the target equity has recently been completed.

In this transaction, Zhejiang Titan Co., Ltd. acquired 100% equity in the Xinjiang Yangtze River Textile Co., Ltd. from its shareholders by means of cash payment, with a total transaction consideration of RMB 90.3798 million. Following the completion of the transaction, the Xinjiang Yangtze River Textile Co., Ltd. has become a wholly-owned subsidiary of Zhejiang Titan Co., Ltd..

Established in 1998, Zhejiang Titan Co., Ltd. has been committed to the R&D and manufacturing of high-end textile machinery, with a continuous focus on creating advanced textile equipment that is high-speed, automated, and intelligent. To date, it has built a diversified portfolio comprising five major product series and more than 20 types of machinery, including high-speed weaving equipment, intelligent spinning systems, new twisting machines, automatic winding units, and modern logistics solutions. The company has achieved 15 national-level scientific and technological accomplishments and holds over 150 independent intellectual property rights. The performance metrics of its core products have reached internationally advanced standards, contributing significantly to the development of high-end textile machinery manufacturing. The company enjoys a strong brand reputation and high customer recognition. Its trademark is certified as a “Famous Trademark of Zhejiang Province”. Its products, such as rotor spinning frames and high-speed rapier looms rank among the top in market share. Through consistent innovation and quality, Zhejiang Titan Co., Ltd. has established a distinguished brand image and enhanced its competitiveness in the industry.

Established in 2021 and based in Tumushuke City, Xinjiang Uygur Autonomous Region, Xinjiang Yangtze River Textile Co., Ltd. specializes in textile manufacturing with a primary focus on cotton yarn and cotton cloth.

Through this transaction, Zhejiang Titan Co., Ltd. will be better positioned to support its future business growth and market expansion. The move will facilitate the company’s comprehensive development in the textile equipment industry, strengthen the operations of its various business segments, and align with its long-term strategic objectives. Furthermore, the transaction is expected to enhance the company’s overall competitiveness, boost profitability, and promote sustained and steady growth—ultimately elevating its market position and industry profile. 

A legal team from Zhonglun W&D Law Firm, led by Senior Partner Yanzhou Zhang and comprising attorneys Hongjie Chen, Dan Lai, and Chengming Ding, delivered efficient and professional legal services to the acquirer, Zhejiang Titan Co., Ltd., throughout the acquisition. Their support encompassed commercial negotiations, the drafting and revision of transaction documents, assistance with regulatory filings and information disclosure, as well as facilitation of the share transfer process.

zhangyanzhou@zlwd.com

Yanzhou Zhang  Senior Partner

Dan Lai  Partner

Hongjie Chen    Partner

Practice Areas: Chinese Mainland Capital Markets, Investment and Mergers & Acquisitions, Corporate Governance

Chengming Ding   Attorney