Lanzhou Haimo Technologies Co., Ltd. completed the acquisition of Shanghai Qinghe Machinery Co., Ltd. from Li Jianguo and Li Tie.
As of December 31, 2013 Shanghai Qinghe Machinery had total assets of CNY 238.41 million, total liabilities of CNY 114.32 million, total owners' equity of CNY 124.09 million, revenue of CNY 183.7 million, operating profit of CNY 25.64 million, total profit of CNY 28.34 million and net profit of CNY 24.10 million. The transaction is subject to working meeting of the Merger, Acquisition and Reorganization Examination Committee for Listed Companies of China Securities Regulatory Commission and the written approval of the China Securities Regulatory Commission and approval by shareholders of Lanzhou Haimo Technologies Co., Ltd.
On May 18, 2014, the transaction was approved by the shareholders of Shanghai Qinghe Machinery. On May 22, 2104, the Board of Directors of Lanzhou Haimo Technologies approved the deal. On June 23, the transaction was approved by shareholders of Lanzhou Haimo Technologies. On October 16, 2014, China Securities Regulatory Commission approved the transaction. Sinolink Securities Co., Ltd. acted as financial advisor, Llinks Law Offices acted as legal advisor and Ruihua Certified Public Accountants acted as accountant for Lanzhou Haimo Technologies.
Lanzhou Haimo Technologies Co., Ltd. (SZSE:300084) completed the acquisition of Shanghai Qinghe Machinery Co., Ltd. from Li Jianguo and Li Tie on October 25, 2014.