China Aviation Optical-Electrical Technology Co., Ltd. completed the acquisition of 51% stake in Shenzhen Xiangtong Photoelectric Technology Co., Ltd. from Wang Guanghui and Tan Li.
October 31, 2014 at 12:00 am EDT
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China Aviation Optical-Electrical Technology Co., Ltd. (SZSE:002179) entered into an equity transfer agreement to acquire 51% stake in Shenzhen Xiangtong Photoelectric Technology Co., Ltd. from Wang Guanghui and Tan Li for approximately CNY 120 million in cash on October 10, 2014. The transaction will be funded from internal funds by China Aviation Optical-Electrical. For the year ended December 31, 2013, Xiangtong Photoelectric reported, had total assets of CNY 118.21 million, revenue of CNY 81.84 million, net profits before taxation of CNY 0.3 million and net loss after taxation of CNY 0.2 million. The transaction was approved by the Board of China Aviation Optical-Electrical Technology Co., Ltd. on October 10, 2014.
China Aviation Optical-Electrical Technology Co., Ltd. (SZSE:002179) completed the acquisition of 51% stake in Shenzhen Xiangtong Photoelectric Technology Co., Ltd. from Wang Guanghui and Tan Li on October 31, 2014.
AVIC Jonhon Optronic Technology Co, Ltd. specializes in the development, manufacture and marketing of high-end optical, electrical and fluidic connectors and interconnection equipment. The products are intended for the defense, aviation, aerospace, military aeronautics, shipbuilding, communications, rail transport, oil industry and healthcare sectors.
China Aviation Optical-Electrical Technology Co., Ltd. completed the acquisition of 51% stake in Shenzhen Xiangtong Photoelectric Technology Co., Ltd. from Wang Guanghui and Tan Li.
AVIC JONHON OPTRONIC TECHNOLOGY CO.,LTD. 
