Jiangsu Lettall Electronic Co.,Ltd completed the acquisition of 42.47% stake in Nanjing Jinning Microwave Co., Ltd. from Group of individual sellers.
November 23, 2021
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Jiangsu Lettall Electronic Co.,Ltd (SHSE:603629) signed an Equity Transfer Agreement to acquire 42.47% stake in Nanjing Jinning Microwave Co., Ltd. from Group of individual sellers for CNY 39.87 million on May 26, 2021. As part of the transaction, will acquire 42.47% stake from Wang Meisheng, Xu Youtian, Chen Gang, Hu Jinxia, Qiu Yongxia, Yuan Hengxin, Yu Weilin, Huang Zesheng, Li Feng, Yao Hua, Lu Bin, Cao Jian, Wu Xiaoming, Xu Wenbin, Chen Fangming, Ye Haiyan, Xu Guiyun, Zhao Chengzhi, Jiang Liqun, Qi Xiaoping, Zhao Shihua , Huang Yunxia, Jiang Xiaoyin, Xu Yilong, Xu Ninggao, Sun Min, Zhou Ming, Kong Xichuan. As on March 31, 2021, Nanjing Jinning Microwave Co., Ltd. reported total assets of CNY 65.7 million, Net assets of CNY 58.38 million, EBIT of CNY 3.07 million, Revenue of CNY 7.21 million and Net proft of CNY 2.92millions.Transaction is approved by the Board of Jiangsu Lettall Electronic Co.,Ltd.
Jiangsu Lettall Electronic Co.,Ltd (SHSE:603629) completed the acquisition of 42.47% stake in Nanjing Jinning Microwave Co., Ltd. from Group of individual sellers on November 24, 2021. Post completion, Jiangsu Lettall hold 100% stake in Nanjing Jinning Microwave.
Jiangsu Lettall Electronic Co., Ltd. is a China-based company which mainly designs, manufactures and sells precision metal structural parts and electronic components. The Company's main products include LCD TV precision metal stamping structural parts, bases, molds and electronic components, such as precision metal stamping back shells, precision metal stamping back sheets, precision metal face frames, heat sinks, stiffeners, voltage transformers, inductors, filters and others. The Company's products are mainly used in liquid crystal display fields such as LCD TVs. The Company's product brands mainly include LETTALL and TUPAI.