Hengtong Optic-Electric Co., Ltd. agreed to acquire Suzhou Hengtong Huanwang Information Service Co., Ltd. from Hengtong Group Co., Ltd for CNY 23.7 million on July 24, 2021.
July 23, 2021
Share
Hengtong Optic-Electric Co., Ltd. (SHSE:600487) agreed to acquire Suzhou Hengtong Huanwang Information Service Co., Ltd. from Hengtong Group Co., Ltd for CNY 23.7 million on July 24, 2021. Hengtong Optic-Electric will pay 50% of the equity transfer funds to the designated bank account of Hengtong Group in cash on the day when the equity transfer agreement is signed, and pay 50% of the equity transfer funds to Hengtong by cash within 5 days from the date of completion of the industrial and commercial change registration. The transaction has been reviewed and approved at the third meeting of Hengtong Optic-Electric's eighth board of directors and does not need to be submitted to the shareholders meeting for deliberation. The present transaction was also approved by the third meeting of the company's eighth board of supervisors.
Hengtong Optic-Electric Co., LTD. is a China-based company principally engaged in the research and development, design, manufacturing and sales of optical communication network products. The Company is also engaged in the manufacturing and sales of power transmission products and provision of related system integration services. The Company is also involved in the businesses related to emerging industries through its subsidiaries, such as the marine engineering, new energy vehicles and intelligent communities, among others.
Hengtong Optic-Electric Co., Ltd. agreed to acquire Suzhou Hengtong Huanwang Information Service Co., Ltd. from Hengtong Group Co., Ltd for CNY 23.7 million on July 24, 2021.