Fangda Jinhua Chemical Technology Co.,Ltd signed acquisition framework agreement to acquire Shenzhen Weike Electronic Module Co., Ltd. from Zhang Ya, Zhou Wenmei, Beijing Hengshentai Investment Management Co., Ltd. and Shanghai Dianbo Investment Consultant Co., Ltd. for CNY 450 million.
September 10, 2017
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Fangda Jinhua Chemical Technology Co.,Ltd (SZSE:000818) signed acquisition framework agreement to acquire Shenzhen Weike Electronic Module Co., Ltd. from Zhang Ya, Zhou Wenmei, Beijing Hengshentai Investment Management Co., Ltd. and Shanghai Dianbo Investment Consultant Co., Ltd. for CNY 450 million on June 13, 2017. On September 10, 2017, an agreement was signed. Fangda Jinhua Chemical Technology Co.,Ltd will acquire 80% stake from Zhang Ya, Zhou Wenmei and Beijing Hengshentai Investment Management Co., Ltd. for CNY 360 million in cash and 20% stake from Shanghai Dianbo Investment Consultant Co., Ltd. for CNY 90 million in cash. Prior to the transaction, Zhang Ya held 55% stake, Zhou Wenmei held 5% stake, Beijing Hengshentai Investment Management Co., Ltd. and Shanghai Dianbo Investment Consultant Co., Ltd. held 20% stake each in Shenzhen Weike Electronic Module Co., Ltd. After the transaction, Fangda Jinhua Chemical Technology Co.,Ltd will hold 100% stake, Zhang Ya, Zhou Wenmei, Beijing Hengshentai Investment Management Co., Ltd. and Shanghai Dianbo Investment Consultant Co., Ltd will hold no stake in Shenzhen Weike Electronic Module Co., Ltd.
As of December 31, 2016, Shenzhen Weike Electronic Module Co., Ltd. reported total assets of CNY 137.06 million and owner’s equity of CNY 89.6 million. Shenzhen Weike Electronic Module Co., Ltd. reported revenues of CNY 119.37 million, operating profit of CNY 40.51 million and net profit of CNY 35.3 million in 2016. The transaction is subject to shareholders’ approval of Fangda Jinhua Chemical Technology Co.,Ltd. The transaction has been approved by the directorate of Fangda Jinhua Chemical Technology Co.,Ltd. on June 13, 2017 and September 11, 2017. On October 9, 2017, the shareholders’ of Fangda Jinhua Chemical Technology Co.,Ltd approved the transaction.
HANGJIN TECHNOLOGY CO., LTD., formerly FANGDA JINHUA CHEMICAL TECHNOLOGY CO., LTD., is a China-based company principally engaged in the manufacturing and sales of basic chemical raw materials. The Company's main products include caustic soda, liquid chlorine, chlorinated benzene, propylene oxide, polyether and polyvinyl chloride. The Company's products are mainly used for chemical fiber manufacturing, pharmaceutical, polyurethane, construction and other industries. The Company mainly distributes its products in the domestic and overseas markets.
HANGJIN TECHNOLOGY CO., LTD. 
