Cashway Fintech Co.,Ltd. agreed to acquire Hengyintong Information Technology Co., Ltd. from Hengrong Investment Group Co., Ltd. and Tianjin Xi'ao Elevator Engineering Co., Ltd. for CNY 37.5 million.
July 06, 2020
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Cashway Fintech Co.,Ltd. (SHSE:603106) agreed to acquire Hengyintong Information Technology Co., Ltd. from Hengrong Investment Group Co., Ltd. and Tianjin Xi'ao Elevator Engineering Co., Ltd. for CNY 37.5 million on July 6, 2020. Cashway will acquire the 87.41% stake from Hengrong Investment Group Co., Ltd. and 12.59% stake from Tianjin Xi'ao Elevator Engineering Co., Ltd. Cashway Fintech Co.,Ltd. must pay the transfer price to the designated account of Hengrong Investment Group Co., Ltd. and Tianjin Xi'ao Elevator Engineering Co., Ltd. before July 20, 2020. For the year ending December 31, 2019, Hengyintong Information Technology Co., Ltd. reported total assets of CNY 44.46 million, net assets of CNY 38.05 million, revenues of CNY 7.23 million and net loss of CNY 0.056 million. The transaction was approved in the 15th Meeting of the 2nd Directorate of Cashway.
Cashway Fintech Co., Ltd., formerly Cashway Technology Co., Ltd., is a China-based company principally engaged in the provision of intelligent bank solutions that are mainly focused on financial self-service equipment. The Company operates through two main segments. The Main Business segment is primarily involved in research, development and sales of cash self-service machines, non-cash self-service machines and components, as well as the provision of equipment maintaining, outsourcing, software and technology development services. The Other Business segment is primarily engaged in the sales of electric power telecommunication equipment and rental housing.
Cashway Fintech Co.,Ltd. agreed to acquire Hengyintong Information Technology Co., Ltd. from Hengrong Investment Group Co., Ltd. and Tianjin Xi'ao Elevator Engineering Co., Ltd. for CNY 37.5 million.
CASHWAY FINTECH CO.,LTD. 
