Shanghai Xuanding Asset Management Co., Ltd. completed the acquisition of 5.1% stake in Shanghai Fortune Techgroup Co., Ltd. from Shanghai Fortune Information Technology Co., Ltd.
May 09, 2021
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Shanghai Xuanding Asset Management Co., Ltd. signed a share transfer agreement to acquire 5.1% stake in Shanghai Fortune Techgroup Co., Ltd. (SZSE:300493) from Shanghai Fortune Information Technology Co., Ltd. for approximately CNY 120 million on March 11, 2021. As per terms, Shanghai Xuanding Asset Management Co., Ltd. will acquire 24.5 million shares and the consideration shall be paid in cash within 3 months after this agreement is signed and formally effective. Before this equity change, Shanghai Xuanding Asset Management Co., Ltd. did not hold any shares and Shanghai Fortune Information Technology Co., Ltd. held 30% of Shanghai Fortune Techgroup Co., Ltd.
Shanghai Xuanding Asset Management Co., Ltd. completed the acquisition of 5.1% stake in Shanghai Fortune Techgroup Co., Ltd. (SZSE:300493) from Shanghai Fortune Information Technology Co., Ltd. on May 10, 2021.
Shanghai Fortune Techgroup Co., Ltd. is a China-based authorized distributor of integrated circuits (ICs). The Company is mainly providing a range of technical support services including IC application solutions to customers, so as to form the sales of IC products. The products distributed by the Company are focused on the communication connection chip and the sensor chip, which are divided into eight categories, including wireless fidelity (WiFi) and network processor chips, wireless connected chips, capacitors, sensor chips, radio frequency (RF) and power amplifiers, connectors and microprocessor chips, among others.
Shanghai Xuanding Asset Management Co., Ltd. completed the acquisition of 5.1% stake in Shanghai Fortune Techgroup Co., Ltd. from Shanghai Fortune Information Technology Co., Ltd.
SHANGHAI FORTUNE TECHGROUP CO., LTD. 
