AVCON Information Technology Co., Ltd. agreed to acquire additional 20% stake in Zhengzhou Xin Yi Hua Medical Technology Co.,Ltd. from Henan Yuanlang Enterprise Management Co., Ltd. for CNY 60 million.
June 28, 2021
Share
AVCON Information Technology Co., Ltd. (SZSE:300074) agreed to acquire additional 20% stake in Zhengzhou Xin Yi Hua Medical Technology Co.,Ltd. from Henan Yuanlang Enterprise Management Co., Ltd. for CNY 60 million on June 29, 2021. Within fifteen working days after the signing of this agreement AVCON Information Technology Co., Ltd. (SZSE:300074) shall pay Henan Yuanlang Enterprise Management Co., Ltd. a total of CNY 20 million in the first installment of equity transfer. Within fifteen working days from the date when all the prerequisites stipulated in Article 2.1 of this Agreement are met or exempted and the investor obtains all the delivery documents stipulated in Article 2.2 the investment the AVCON Information Technology Co., Ltd. (SZSE:300074) shall pay to Henan Yuanlang Enterprise Management Co., Ltd. the total amount of CNY 40 million for the second phase of equity transfer. For the period ended March 31, 2021, Zhengzhou Xin Yi Hua Medical Technology Co.,Ltd. reported total assets of CNY 143.4 million and common equity of CNY 55.6 million.
AVCON Information Technology Co.,Ltd. is a China-based company principally engaged in the research, development, design, distribution and technical service provision of audio and video communication products and image intelligent integration applications. The Company primarily provides intelligent multimedia communication solutions, including video conference system, emergency command system, intelligent city, online education, intelligent healthcare, video bank and video monitoring control system, among others. The Company is also involved in the development of related technology and the provision of after-sale services. The Company operates its business in domestic market.
AVCON Information Technology Co., Ltd. agreed to acquire additional 20% stake in Zhengzhou Xin Yi Hua Medical Technology Co.,Ltd. from Henan Yuanlang Enterprise Management Co., Ltd. for CNY 60 million.