# Harbin Electric sells 51% of Dongzhuang Company to Jidian for RMB 401 million

Harbin Electric agreed to sell 51% of its wholly-owned subsidiary Dongzhuang Company to Jidian for about RMB 401 million in cash. The transaction will allow Harbin Electric to exit the electric motor business and focus on power generation equipment.

- Type: Acquisition
- Announced: 2023-07-18
- Where: China
- Value: $56.0M (401.0M CNY)
- Status: announced
- Products: nuclear main pumps, electric motors, generators
- Sectors: [Power Generation Equipment](https://endata.com/sectors/power-generation-equipment.md)

## Companies

- [Harbin Electric](https://endata.com/companies/3291.md)
- [Jidian](https://endata.com/companies/71489.md) (acquirer)
- [Dongzhuang Company](https://endata.com/companies/71490.md) (target)

## Sources

- [beta.zhitongcaijing.com](http://beta.zhitongcaijing.com/content/detail/962834.html), 2023-07-18: "公司出售动装公司的控股权益，从而退出电动机业务，将使集团能够进一步聚焦于发电设备制造主业。"

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