Hebei Huijin Electromechanical Co., Ltd. signed an Equity Transfer Agreement to acquire 47% stake in Hebei Delanite Electromechanical Technology Co., Ltd. form Wang Jianjun, Wang Qi, Wang Yu, Zhang Yanzhi, Qi Enyi for CNY 10.7 million.
December 16, 2019
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Hebei Huijin Electromechanical Co., Ltd. (SZSE:300368) signed an Equity Transfer Agreement to acquire 47% stake in Hebei Delanite Electromechanical Technology Co., Ltd. form Wang Jianjun, Wang Qi, Wang Yu, Zhang Yanzhi, Qi Enyi for CNY 10.7 million on December 17, 2019. Hebei Huijin Electromechanical Co., Ltd. will acquire 35% stake from Wang Jianjun, Wang Qi, Wang Yu and Zhang Yanzhi and 12% stake from Qi Enyi. As per the terms of the transaction, Hebei Huijin Electromechanical Co., Ltd. has paid Wang Jianjun, Wang Qi, Wang Yu and Zhang Yanzhi a deposit of CNY 1 million for the equity transfer price, and this deposit will be automatically converted into the equity transfer price after parties Wang Jianjun, Wang Qi, Wang Yu and Zhang Yanzhi and Hebei Huijin Electromechanical Co., Ltd. sign this agreement. After the signing of this agreement, within seven working days, Hebei Huijin Electromechanical Co., shall pay the remaining equity transfer price to Wang Jianjun, Wang Qi, Wang Yu and Zhang Yanzhi`s shareholding account for exclusive use of equity transfers” CNY 6,970,818.79 and within seven working days, Qi Enyi shall pay Hebei Huijin Electromechanical Co., Ltd. 90% of the entire equity transfer price, for a total amount of CNY 2,459,566.94. Hebei Huijin Electromechanical Co., Ltd. will pay CNY 7.97 to Wang Jianjun, Wang Qi, Wang Yu and Zhang Yanzhi for 35% stake and CNY 2.73 million to Qi Enyi for 12% stake.
Hebei Huijin Group Co Ltd, formerly Hebei Huijin Electromechanical Co Ltd, is mainly involved in the research, development, manufacture, sale and service of bank equipment. The Companyâs main products include banknote strapping machines and binding machines, self-service bank receipt printers, self-service paper machines, Renminbi (RMB) distribution packaging line, virtual counters and RMB anti-counterfeit propaganda stations among others. The Company supplies its products in domestic banks including Industrial and Commercial Bank of China, Bank of China, Agricultural Bank of China, Construction Bank of China, Bank of Communications and others. It distributes its products in domestic and overseas markets.
Hebei Huijin Electromechanical Co., Ltd. signed an Equity Transfer Agreement to acquire 47% stake in Hebei Delanite Electromechanical Technology Co., Ltd. form Wang Jianjun, Wang Qi, Wang Yu, Zhang Yanzhi, Qi Enyi for CNY 10.7 million.
HEBEI HUIJIN GROUP CO., LTD. 
