HAXC Holdings Co., Ltd. agreed to acquire remaining 18.5% stake in Future Automotive Technology Co., Ltd. from Ma Lei, Zhang Yuanguo, Li Zhiwei, You Xiaoxu and Hou Qijia for CNY 12.8 million.
August 19, 2021
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HAXC Holdings (Beijing) Co., Ltd. (SZSE:300928) agreed to acquire remaining 18.5% stake in Future Automotive Technology (Shenzhen) Co., Ltd. from Ma Lei, Zhang Yuanguo, Li Zhiwei, You Xiaoxu and Hou Qijia for CNY 12.8 million on August 19, 2021. As per the transaction, Ma Lei, Zhang Yuanguo, Li Zhiwei, You Xiaoxu and Hou Qijia will sell 10%, 4%, 2%, 1.5% and 1% stake respectively. HAXC Holdings (Beijing) Co., Ltd. shall pay 50% of consideration within 30 days from the effective date of agreement while remaining 50% payable within 30 days after completion. Post completion, HAXC Holdings (Beijing) Co., Ltd. shall hold 100% stake in Future Automotive Technology (Shenzhen) Co., Ltd.
As of June 30, 2021, Future Automotive Technology (Shenzhen) Co., Ltd. has reported total assets of CNY 91.59 million and net assets of CNY 55.08 million. The Board of Directors of HAXC Holdings (Beijing) Co., Ltd. has approved the transaction and its shareholder’s approval is not required.
HAXC Holdings Beijing Co Ltd is a China-based company mainly engaged in the customization of core display components, software system development and sales of supporting components for automotive intelligent cockpits. The products of the core component business are mainly liquid crystal displays and touch screens, which are the core display and interactive components of automotive cockpit electronics. The software system development business provides customized development services mainly based on automotive cockpit electronic software and hardware. The general component distribution business is engaged in the sales of other general component products around automobiles and related industrial chains. Intelligent cockpit terminal products include central control display systems, liquid crystal display instrument panels, head-up displays and others. The Company conducts its business in the domestic and foreign markets.
HAXC Holdings Co., Ltd. agreed to acquire remaining 18.5% stake in Future Automotive Technology Co., Ltd. from Ma Lei, Zhang Yuanguo, Li Zhiwei, You Xiaoxu and Hou Qijia for CNY 12.8 million.