Shenzhen Lankun Technology Co., Ltd. agreed to acquire Tatwah Technology Co., Ltd from Tatwah Smartech Co., Ltd. for CNY 80 million.
August 29, 2021
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Shenzhen Lankun Technology Co., Ltd. agreed to acquire Tatwah Technology Co., Ltd from Tatwah Smartech Co., Ltd. (SZSE:002512) for CNY 80 million on August 27, 2021. Shenzhen Lankun shall pay the first installment of equity transfer CNY 30 million by bank transfer within 10 days on the effective date of this agreement. The remaining equity transfer payment shall be paid in 5 years, and the equity transfer payment of CNY 10 million shall be paid by bank transfer before December 31 each year. For the year ended December 31, 2020, Tatwah Technology reported total assets of CNY 251.7559 million, net assets of CNY 227.428 million, revenue of CNY 125.0532 million and net profit of CNY -5.2572 million. On August 27, 2021, company’s third meeting of the fourth board of directors approved the transaction. Tatwah Smartech guarantees that it will cooperate with Tatwah Technology to submit the application materials for industrial and commercial change registration of this equity transfer to the competent industrial and commercial department within 5 days from the effective date of this agreement, and to complete the application within 10 days from the effective date of this agreement The industrial and commercial change registration of the equity transfer (the date of industrial and commercial change registration is the delivery date).
Tatwah Smartech Co Ltd is a China-based company mainly engaged in the provision of terminal and system application product solutions. The Company is committed to building a communication network that integrates satellite Internet, big data centers, emergency communications and marine economic operations. The Company mainly conducts its businesses through three segments. The Television (TV) Motherboard and Smart Display segment is mainly engaged in the research and development, manufacturing and sales of smart screens, digital screens, smart TVs and smart display motherboards. The Project Development and System Integration Business segment mainly provides global high-throughput satellite communication services, satellite Internet operation services, communication terminal products and industrial digital applications. The Other Business segment is mainly engaged in other businesses related to communication networks and digital screens.