Hangzhou Changchuan Technology Co.,Ltd agreed to acquire 10% stake in FT Device Technology Co., Ltd. from Suzhou Jicanghai Enterprise Management Consulting Partnership (Limited Partnership), Zhou Ming and Wang Jun for CNY 15 million.
December 16, 2019
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Hangzhou Changchuan Technology Co.,Ltd (SZSE:300604) agreed to acquire 10% stake in FT Device Technology Co., Ltd. from Suzhou Jicanghai Enterprise Management Consulting Partnership (Limited Partnership), Zhou Ming and Wang Jun for CNY 15 million on December 17, 2019. An agreement was signed on December 24, 2019. Hangzhou Changchuan Technology will pay CNY 15 per share in cash within 20 working days from the date of completion of the registration formalities for changes in business. Zhou Ming will sell 5.6% stake, Wang Jun will sell 2.4% stake and Suzhou Jicanghai Enterprise Management Consulting Partnership will sell 1.75 stake. For the year ending December 12, 2018, FT Device Technology Co., Ltd. reported total assets of CNY 45.21 million, total debt of CNY 9.13 million, net assets of CNY 36.07 million, operating revenue of CNY 48.3 million, operating profit of CNY 14.3 million and net profit of CNY 12.6 million. The transaction was approved by the 13rd meeting of the 2nd directorate of Hangzhou Changchuan Technology Co.,Ltd.
Hangzhou Changchuan Technology Co Ltd, formerly Hangzhou Chang Chuan Technology Co., Ltd., is a China-based company principally engaged in the research, development, manufacture and sales of application-specific equipment for integrated circuit. The Company operates through two main segments. The Main Business segment is primarily involved in the research, development, manufacture and sales of application-specific test and sorting equipment for integrated circuit. The Other Business segment is mainly engaged in the sales of components and provision of maintenance service.
Hangzhou Changchuan Technology Co.,Ltd agreed to acquire 10% stake in FT Device Technology Co., Ltd. from Suzhou Jicanghai Enterprise Management Consulting Partnership (Limited Partnership), Zhou Ming and Wang Jun for CNY 15 million.