According to the company's Forms 20-F, Guangxi Yuchai Machinery Company Limited had management control over Jining
Yuchai based on a management agreement dated October 13, 2014, between the company and the Vendor.The Acquisition was made pursuant to an irrevocable option to acquire the shares in Jining
Yuchai granted to Guangxi Yuchai Machinery Company Limited, and will align the equity control of Jining
Yuchai with the management control that Guangxi Yuchai Machinery Company Limited already exercises over it.
As disclosed in the company's Forms 20-F, GYMCL had management control over Jining Yuchai pursuant to a management agreement dated October 13, 2014 between GYMCL and the seller.
As such, the company consolidated Jining Yuchai in its past-consolidated financial statements.
GYMCL had management control over Jining Yuchai pursuant to a prior management agreement with the Vendor.
M2 EQUITYBITES-November 28, 2017-China Yuchai acquires Jining Yuchai Engine Company Limited for CNY250,000
Jim's first visit to Jining was in October last year and he followed that up with a trip in April for the opening ceremony.
Jim's connection to Jining began more than 10 years ago, after his student son Cameron brought some Chinese friends to the family home.
An official from the general office of the Affiliated Hospital of Jining
Medical College confirmed it was involved.