YSK1860 Acquires Ownership Interest in Cleantech Solutions International
09 Mayo 2017 - 5:30AM
Marketwired
YSK1860 Acquires Ownership Interest in Cleantech Solutions
International
HONG KONG, CHINA-(Marketwired - May 9, 2017) - YSK1860, an
investment holding company with investments in different countries
covering a wide range of sectors from traditional construction,
real estate, trading to environmental and the Internet, today
announced that on April 27, 2017, it acquired all of the shares of
Cleantech Solutions International, Inc. ("Cleantech Solutions")
(NASDAQ: CLNT) previously held by Cleantech Solutions' Chairman and
CEO, Mr. Jinhua Wu, and his affiliates.
Pursuant to the terms of the agreement, YSK1860 purchased
416,249 shares of Cleantech Solutions stock from Mr. Wu and his
affiliates for $970,000, or $2.33 per share. Mr. Wu and his
affiliates decision to sell their shares was based on personal
reasons, and Mr. Wu will retain his positions as Chairman and CEO
of Cleantech Solutions going forward.
Commenting on the transaction Mr. Wu said, "The decision to sell
these shares was personal, and I am pleased to have found an
investor with the patience, vision and expertise to support
Cleantech Solutions now and in the future. I look forward to
staying on as CEO as we work on improving existing operations and
exploring other areas with growth potential."
Dr. Thomas Chan, director of YSK1860, said "This investment in
Cleantech Solutions demonstrates our trust and confidence in the US
stock market and the Company for its long-term growth potential and
opportunity to participate in the growing Chinese energy market. We
also expect to leverage our investment expertise and connections in
the technology, media and telecommunications sectors to support
Cleantech Solutions in identifying new business opportunities in
the future. We are confident in the current management's ability to
put this year of transition behind us and focus on improving the
long-term business outlook."
About Cleantech Solutions International Cleantech Solutions,
through its affiliated companies, designs, manufactures and
distributes a line of proprietary high and low temperature dyeing
and finishing machinery to the textile industry.
About YSK1860 YSK1860 is a privately held company with
investments in different countries and categories. YSK1860's
investment portfolio has covered a wide range of sectors from
traditional construction, real estate, trading to environmental,
internet etc. As the world evolves, we face different challenges
and opportunities during different periods. YSK1860 capitalizes on
trends and opportunities of our time with the aim to not only
achieve capital growth but also provide a positive influence on
society and the world. YSK1860 is a partner/client of Rothschild,
UBS, Credit Suisse, and LGT on investment management. For more
information visit http://ysk1860.com/
Contact Information
- Media Contact: Cleantech Solutions International, Inc. May Liu
Investor Relationship E-mail:
ir@cleantechsolutionsinternational.com +852-31060372 Web:
www.cleantechsolutionsinternational.com Compass Investor Relations
Elaine Ketchmere CFA Email: eketchmere@compass-ir.com
+1-310-528-3031 Web: www.compassinvestorrelations.com
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