Beijing Jingyuntong Technology Co., Ltd cancelled the acquisition of Shandong Tiancan Environmental Science and Technology Co., Ltd. from Zhu Shemin, Liu Guichun, Zhou Fang, He Xinping and Tang Jianqiang.
May 04, 2014 at 12:00 am EDT
Share
Beijing Jingyuntong Technology Co., Ltd (SHSE:601908) signed a letter of intent to acquire Shandong Tiancan Environmental Science and Technology Co., Ltd. from Zhu Shemin, Liu Guichun, Zhou Fang, He Xinping and Tang Jianqiang for approximately CNY 190 million in cash on May 4, 2013. Beijing Jingyuntong Technology wil pay CNY 66.27 million to Zhu Shemin for 35.67% stake, CNY 45.83 million to Liu Guichun for 24.67% stake, CNY 42.12 million to Zhou Fang for 22.67% stake, CNY 18.58 million to He Xinping for 10% stake and CNY 13.01 million to Tang Jianqiang for 7% stake in Shandong Tiancan. As part of the consideration, sellers shall pay 30% of the total transfer price that is CNY 55.74 million to Beijing Jingyuntong Technology Co., Ltd within 10 days from the date this agreement becomes effective and shall pay 21% of the total equity transfer price that is CNY 39.02 million within 10 days after 3 months from the date of equity completes industry and commerce registration modification and sellers shall pay 49% of the total transfer price that is CNY 91.04 million within 10 days after 1 year from the date of equity completes industry and commerce registration modification. Shandong Tiancan Environmental Science and Technology Co., Ltd. reported total assets of CNY 96.65 million, net assets of CNY 42.64 million, revenue of CNY 19.26 million and net profit of CNY 11.77 million for the year 2012.
As of July 17, 2013, Beijing Jingyuntong Technology Co., Ltd signed the equity transfer agreement to acquire Shandong Tiancan Environmental Science and Technology Co., Ltd. The transaction is subject to approval by Board of Directors of Beijing Jingyuntong Technology Co., Ltd. The transaction has been approved by unanimously by Board of Directors of Beijing Jingyuntong Technology Co., Ltd on July 23, 2013. As on July 23, 2013, Beijing Jingyuntong Technology signed the supplemental agreement to acquire Shandong Tiancan Environmental Science.
Beijing Jingyuntong Technology Co., Ltd (SHSE:601908) cancelled the acquisition of Shandong Tiancan Environmental Science and Technology Co., Ltd. from Zhu Shemin, Liu Guichun, Zhou Fang, He Xinping and Tang Jianqiang on May 4, 2014.
Beijing Jingyuntong Technology Co., Ltd. is a China-based company principally engaged in the manufacturing of semiconductor and photovoltaic precision equipments. The Company's main businesses include the equipment manufacturing, new energy power generation, new materials, as well as the energy saving and environmental protection businesses, among others. The Company's main products include the monocrystalline silicon growth furnaces and polysilicon ingot furnaces, as well as silicon rods, ingots and silicon wafers. Its products are mainly used in the production of polycrystalline silicon ingots, monocrystalline silicon rods, solar grade silicon and solar cells, among others.
Beijing Jingyuntong Technology Co., Ltd cancelled the acquisition of Shandong Tiancan Environmental Science and Technology Co., Ltd. from Zhu Shemin, Liu Guichun, Zhou Fang, He Xinping and Tang Jianqiang.
BEIJING JINGYUNTONG TECHNOLOGY CO., LTD. 
