Dongfang Electronics Co., Ltd. entered into an agreement to acquire 51% stake in Yantai Haihua Power Technology Co., Ltd. from Dongfang Electronics Group Co., Ltd. for CNY 32.9 million.
August 26, 2021
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Dongfang Electronics Co., Ltd. (SZSE:000682) entered into an agreement to acquire 51% stake in Yantai Haihua Power Technology Co., Ltd. from Dongfang Electronics Group Co., Ltd. for CNY 32.9 million on August 25, 2021. Pursuant to the transaction, the buyer shall pay 50% of the consideration in cash within 10 working days after the agreement becomes effective, totaling CNY 16.46 million and shall pay the remaining 50% of the consideration in cash within 6 months after the agreement becomes effective, totaling CNY 16.46 million. The board of directors of Dongfang Electronics Co. approved the transaction.
Dongfang Electronics Co., Ltd. is a China-based company principally engaged in the development, manufacturing and distribution of electrical and industrial automation controlling systems. The Company primarily provides electricity dispatch automation systems, power protection and transformation integrated automation systems, power distribution automation systems, information management systems, electricity bill measurement systems, as well as electronic equipment and system integration products. The Company mainly distributes its products in domestic and overseas markets.
Dongfang Electronics Co., Ltd. entered into an agreement to acquire 51% stake in Yantai Haihua Power Technology Co., Ltd. from Dongfang Electronics Group Co., Ltd. for CNY 32.9 million.
DONGFANG ELECTRONICS CO., LTD. 
