Bichamp Cutting Technology Co., Ltd. completed the acquisition of Jiangsu Meitesen Cutting Tools Co., Ltd. from Song Jianghua and Xiao Jianmin.
October 13, 2022
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Bichamp Cutting Technology (Hunan) Co., Ltd. (SZSE:002843) agreed to acquire Jiangsu Meitesen Cutting Tools Co., Ltd. from Song Jianghua and Xiao Jianmin for approximately CNY 120 million on September 26, 2022. Song Jianghua will sell 70% stake and Xiao Jianmin will sell 30% stake in Jiangsu Meitesen Cutting Tools. Bichamp Cutting Technology (Hunan) will use own funds of CNY 115.3423 million to finance this transaction. Jiangsu Meitesen Cutting Tools has reported total assets of CNY 94.7444 million and net assets of CNY 29.5121 million on December 31, 2021. The board of Jiangsu Meitesen Cutting Tools has approved the deal in 22nd session of 5th directorate held on September 26, 2022.
Bichamp Cutting Technology (Hunan) Co., Ltd. (SZSE:002843) completed the acquisition of Jiangsu Meitesen Cutting Tools Co., Ltd. from Song Jianghua and Xiao Jianmin on October 14, 2022.
Bichamp Cutting Technology Hunan Co Ltd is a China-based company primarily engaged in the production and sales of power supply products. The Company operates primarily through two segments. The Sawing segment is mainly engaged in the research, development, manufacturing and sales of sawing materials, sawing products, sawing processes and sawing equipment. The Power Supply segment is mainly engaged in the production and sales of consumer electronic power supplies, new energy smart photovoltaic/energy storage power supplies, data center power supplies and site energy power supplies. The Company's products are mainly used in aerospace, rail transit, automobile manufacturing, large-scale forging, engineering machinery, wind power, nuclear power, steel metallurgy, mold processing, consumer electronics and new energy fields. The Company mainly conducts its businesses in the domestic market.
BICHAMP CUTTING TECHNOLOGY (HUNAN) CO., LTD. 
