Fujian Electronics & Information Co.,Ltd and Fujian Hege Industrial Group Co., Ltd. completed the acquisition of CPTF Optronics Co., Ltd. from CPT Technology Co.,Ltd and Fujian CPT Display Technology Co., Ltd.
September 10, 2020
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Fujian Electronics & Information (Group) Co.,Ltd and Fujian Hege Industrial Group Co., Ltd. agreed to acquire CPTF Optronics Co., Ltd. from CPT Technology (Group) Co.,Ltd (SZSE:000536) and Fujian CPT Display Technology Co., Ltd. for CNY 2.5 billion on August 13, 2020. As part of the transaction, Fujian Electronics & Information (Group) Co.,Ltd will pay CNY 2.3 billion and Fujian Hege Industrial Group Co., Ltd. will pay CNY 124 million for the acquisition of CPTF Optronics Co., Ltd. In the year ended December 31, 2019, CPTF Optronics Co., Ltd. reported total assets of CNY 3.060 billion, net asset of CNY 1.127 billion, revenue of CNY 147 million, operating loss of CNY 197 million and net loss of CNY 199.5 million. Board of directors of CPT Technology (Group) Co.,Ltd approved the transaction.
Fujian Electronics & Information (Group) Co.,Ltd and Fujian Hege Industrial Group Co., Ltd. completed the acquisition of CPTF Optronics Co., Ltd. from CPT Technology (Group) Co.,Ltd (SZSE:000536) and Fujian CPT Display Technology Co., Ltd. On September 11, 2020. First installment of consideration of CNY 570 million is paid. On November 3, 2020, CPT Technology received CNY 365.9455 million and a total of CNY 2.436 billion is received till date.
CPT TECHNOLOGY (GROUP) CO.,LTD is a China-based company principally engaged in the processing and distribution of liquid crystal display (LCD) modules. The Companyâs main products include large-size Thin Film Transistor Liquid Crystal Displays (TFT-LCDs), medium- and small-size TFT-LCDs, cover lens, flat display components and products, LCD monitors, backlight modules and spare parts, among others. The Company's products are applied in LCD televisions, laptops, monitors, computer monitors, smart phones, tablet computers and vehicle displays, among others. The Company mainly distributes its products in domestic market and to overseas markets.
Fujian Electronics & Information Co.,Ltd and Fujian Hege Industrial Group Co., Ltd. completed the acquisition of CPTF Optronics Co., Ltd. from CPT Technology Co.,Ltd and Fujian CPT Display Technology Co., Ltd.