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(Yicai Global) July 25 -- Shenzhen's Aidahua Business will purchase the entire equity of Aoshengxia Industrial, the parent of Hengli Industrial Development Group, a Chinese car air-con equipment maker, for as little as CNY500,000 (USD72,725), which has raised questions within the bourse on which Hengli is listed.
Ma Weijin, who holds 99 percent of Aidahua's equity, will become the actual controller of Hengli with a 17 percent stake, the Hunan province-based target firm announced.
The Shenzhen Stock Exchange has sent a letter to Hengli to require the company to explain the pricing.
Hengli's share price [SHE: 000622] fell 2.8 percent this morning to CNY4.90 (70 US cents).
Editor: Emmi Laine