Gosuncn Technology Group Co., Ltd. cancelled the acquisition of 51% stake in Guangzhou ITS Communications Equipment Co., Ltd. from Li Yan.
September 22, 2020
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Gosuncn Technology Group Co., Ltd. (SZSE:300098) agreed to acquire 51% stake in Guangzhou ITS Communications Equipment Co., Ltd. from Li Yan on September 23, 2019. For the period ended December 31, 2018, Guangzhou ITS Communications Equipment Co., Ltd. has reported total assets of CNY 140.96 million, total liabilities of CNY 30.79 million, net assets of CNY 110.18 million, revenues of CNY 106.99 million, operating profit of CNY 8.96 million and net profit of CNY 11.20 million. The transaction has been approved in 51st Meeting of the Gosuncn Technology Group Co., Ltd’s 4th Directorate and still subject to Second Approval of the Gosuncn Technology Group Co., Ltd’s Directorate after the Target Assets’ Audit and Assessment Work are Completed, Guangzhou ITS Communications Equipment Co., Ltd.’s shareholders approval, Guangzhou ITS Communications Equipment Co., Ltd.’s shareholder Guangdong Litong Technology Investment Co., Ltd. giving up preemptive rights for transaction, Gosuncn Technology Group Co., Ltd's shareholders approval, China Securities Regulatory Commission and other necessary approvals.
Gosuncn Technology Group Co., Ltd. (SZSE:300098) cancelled the acquisition of 51% stake in Guangzhou ITS Communications Equipment Co., Ltd. from Li Yan on September 23, 2020.
Gosuncn Technology Group Co., Ltd. is a China-based company principally engaged in the provision of solutions and related software and hardware products for communication operation and maintenance integrated management systems. The Companyâs main products include integrated monitoring systems, railway traffic safety systems, public security law enforcement supervision products and automotive electronic identification products, among others. The Company's products are mainly used in communication, public safety, smart city and Internet of vehicles. The Company distributes its products in domestic market.
GOSUNCN TECHNOLOGY GROUP CO., LTD. 
