Hubei Huachangda Intelligent Equipment Co., Ltd. signed a conditional framework agreement to acquire Jiangsu ShiDeWei Network Technology Co., Ltd. from Changshu Shidewei Industry Group Co., Ltd., Changshu Shidewei Investment Properties Co., Ltd., Li Juan, Chen Deyang, Chen Jiawang, Xiao Chenglin, Yao Jinqiang, Zhu Lei, Huang Guojian, Wu Limin and Yin Hai for CNY 1.5 billion.
September 20, 2015
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Hubei Huachangda Intelligent Equipment Co., Ltd. signed a conditional framework agreement to acquire Jiangsu ShiDeWei Network Technology Co., Ltd. from Changshu Shidewei Industry Group Co., Ltd., Changshu Shidewei Investment Properties Co., Ltd., Li Juan, Chen Deyang, Chen Jiawang, Xiao Chenglin, Yao Jinqiang, Zhu Lei, Huang Guojian, Wu Limin and Yin Hai for CNY 1.5 billion on September 18, 2015. Under the terms, as consideration, Hubei Huachangda Intelligent Equipment will issue 55.35 million shares at CNY 18.97 per share and will pay CNY 450 million in cash. In a related deal, Hubei Huachangda Intelligent Equipment Co., Ltd. signed a conditional framework agreement to acquire Kunshan Noke Automotive Technical Machinery Co.,Ltd. from Xu Xueming and Fan Xuefang for CNY 330 million in cash and stock. Hubei Huachangda Intelligent Equipment will finance the acquisition via a private placement, out of which CNY 549 million shall be used to pay for the cash consideration.
Jiangsu ShiDeWei Network Technology Co., Ltd. reported total assets of CNY 273.26 million, total owner's equity of CNY 136.99 million, operating revenues of CNY 850.83 million and net profit of CNY 52.74 million for the year ending December 31, 2014. The transaction is subject to the approval from the second directorate of Hubei Huachangda Intelligent Equipment, shareholders of Hubei Huachangda Intelligent Equipment and China Securities Regulatory Commission approval. The transaction was approved by the Board of Hubei Huachangda Intelligent Equipment. Haitong Securities Co., Ltd. acted as financial advisor for Hubei Huachangda Intelligent Equipment Co., Ltd.
Huachangda Intelligent Equipment Group Co Ltd is a China-based company mainly engaged in providing advanced industrial robots, intelligent manufacturing equipment and system integration solutions. The Company's main business includes independent research and development (R&D), design, manufacturing, installation and commissioning, after-sales service, etc. of automatic intelligent equipment. The Company's products include body-in-white flexible welding production line, final assembly automation production line, coating automation production line, digital chemical plant solutions, intelligent conveying equipment, factory automation system, robot advanced manufacturing system, etc. The Company's products are exported to Brazil, the United States, Mexico and other countries and regions.
Hubei Huachangda Intelligent Equipment Co., Ltd. signed a conditional framework agreement to acquire Jiangsu ShiDeWei Network Technology Co., Ltd. from Changshu Shidewei Industry Group Co., Ltd., Changshu Shidewei Investment Properties Co., Ltd., Li Juan, Chen Deyang, Chen Jiawang, Xiao Chenglin, Yao Jinqiang, Zhu Lei, Huang Guojian, Wu Limin and Yin Hai for CNY 1.5 billion.