Addsino Co., Ltd. agreed to acquire China Aerospace System Simulation Technology Co., Ltd. from Beijing Electrical and Mechanical Engineering Institute, Endowment Arm, Luo Dameng, Jing Shaoguang, Zhang Wenjie, Wang Lu, Shao Qing.
November 13, 2015
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Addsino Co., Ltd. (SZSE:000547) agreed to acquire China Aerospace System Simulation Technology Co., Ltd. (Beijing) from Beijing Electrical and Mechanical Engineering Institute, Endowment Arm, Luo Dameng, Jing Shaoguang, Zhang Wenjie, Wang Lu, Shao Qing in cash on November 13, 2015. Addsino Co., Ltd. intends to acquire 80% to 100% stake. The transaction was unanimously approved by Board of Directors of Addsino Co., Ltd on November 13, 2015.
As on August 1, 2016, Addsino Co., Ltd. (SZSE:000547) agreed to acquire 90% stake in China Aerospace System Simulation Technology Co., Ltd. (Beijing) from Beijing Electrical and Mechanical Engineering Institute, Endowment Arm, Luo Dameng, Jing Shaoguang, Zhang Wenjie, Wang Lu, Shao Qing for approximately CNY 350 million. Addsino will acquire 49% stake from Beijing Electrical and Mechanical Engineering Institute, Endowment Arm and 41% stake from Luo Dameng, Zhang Wenjie, Jing Shaoguang, Wang Lu and Shao Qing. The transaction will be funded through raised proceeds of CNY 351 million. The transaction needs to be approved by the shareholders of Addsino. The transaction has been approved by the State Administration of Science, Technology and Industry for National Defense.
ADDSINO CO.,LTD., formerly CHINASCHOLARS GROUP CO,.LTD. is a China-based company principally engaged in the research, development, manufacture and distribution of command and control communication products, electronic Blue Force and simulation products and electromagnetic security products. The Company's main products include military communication products, experimental radio frequency simulation systems, experimental and field active target simulation systems, radar simulation systems, tactical training simulation systems and electromagnetic protection products, among others. The Company operates its business in domestic market, with North China, East China and southwest area of China as its main markets.
Addsino Co., Ltd. agreed to acquire China Aerospace System Simulation Technology Co., Ltd. from Beijing Electrical and Mechanical Engineering Institute, Endowment Arm, Luo Dameng, Jing Shaoguang, Zhang Wenjie, Wang Lu, Shao Qing.
ADDSINO CO., LTD. 
