Electric Connector Technology Co., Ltd. cancelled the acquisition of 51% stake in Anhui Beidier Technology Co., Ltd. from Zhang Xiaokang, Wang Kunsheng, Wang Anmei, and Cheng Xiuyun.
September 06, 2023
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Electric Connector Technology Co., Ltd. (SZSE:300679) signed an Equity Acquisition Agreement to acquire a 51% stake in Anhui Beidier Technology Co., Ltd. from Zhang Xiaokang, Wang Kunsheng, Wang Anmei, and Cheng Xiuyun for CNY 25.5 million on June 28, 2023. Under the terms, Electric Connector will pay 65% of the consideration after commercial registration authority completes the industrial and commercial change registration of the equity transfer, 15% after completion of the 2023 performance commitment, 10% each after completion of the performance commitments in 2024, and 2025. This transaction has been reviewed and approved by the Listed Electric Connector's 19th meeting of the 3rd board of directors and the 16th meeting of the 3rd Supervisory Board on June 28, 2023. This transaction does not need to submit to the general meeting of shareholders for approval. For the year ended December 31, 2022, Anhui Beidier reported Total assets of CNY 71.5 million, Net assets of CNY 13.9 million, Operating Profit of CNY 7.52 million, Operating Revenue of CNY 63.6 million and Net profit of CNY 6.25 million.
Electric Connector Technology Co., Ltd. (SZSE:300679) cancelled the acquisition of 51% stake in Anhui Beidier Technology Co., Ltd. from Zhang Xiaokang, Wang Kunsheng, Wang Anmei, and Cheng Xiuyun on September 7, 2023.
Electric Connector Technology Co Ltd is a company engaged in research, development, production and sales of miniature electrical connectors and interconnection systems related products. The Company's products include miniature radio frequency (RF) connectors, cable connector assemblies and electromagnetic compatibility parts. The products are used in smart phones, Internet of vehicles (IoV) terminals, smart home appliances and other areas.
Electric Connector Technology Co., Ltd. cancelled the acquisition of 51% stake in Anhui Beidier Technology Co., Ltd. from Zhang Xiaokang, Wang Kunsheng, Wang Anmei, and Cheng Xiuyun.