# Dongfang Electric Group to invest CNY 150M in Dongshu New Materials

Dongfang Electric Group, the controlling shareholder of Dongfang Electric Corporation, will invest CNY 150 million in cash to increase its stake in Sichuan Dongshu New Materials Co., Ltd., a subsidiary of Dongfang Turbine. After the investment, Dongfang Electric Group will hold 52.46% and Dongfang Turbine 47.54%.

- Type: Investment
- Announced: 2019-05-22
- Where: China
- Value: $21.7M (150.0M CNY)
- Status: announced
- Products: new materials
- Sectors: [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md)

## Companies

- [Dongfang Electric Corporation](https://endata.com/companies/16882.md)
- [Sichuan Dongshu New Materials](https://endata.com/companies/39514.md)
- [Dongfang Electric Corporation](https://endata.com/companies/16882.md) (investor)
- [Dongfang Turbine Co., Ltd.](https://endata.com/companies/20805.md) (partner)

## Sources

- [beta.zhitongcaijing.com](http://beta.zhitongcaijing.com/content/detail/205927.html), 2019-05-22: "同意公司控股股东中国东方电气集团有限公司采取非公开协议增资方式对公司控股子公司东方电气集团东方汽轮机有限公司的全资子公司四川东树新材料有限公司进行增资并控股"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.