Yantai Aodeke Automotive Equipment Technology Co., Ltd. cancelled the acquisition of Hubei Wanglian Intelligent Equipment Co., Ltd. from Huachangda Intelligent Equipment Group Co., Ltd..
November 21, 2020
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Yantai Aodeke Automotive Equipment Technology Co., Ltd. agreed to acquire Hubei Wanglian Intelligent Equipment Co., Ltd. from Huachangda Intelligent Equipment Group Co., Ltd. (SZSE:300278) for CNY 88 million on November 22, 2019. Yantai Aodeke Automotive Equipment Technology Co., Ltd. shall remit CNY 44.88 million to the bank account designated by Huachangda Intelligent Equipment Group Co., Ltd. before December 31, 2019. Within 24 months after the first payment is made, Yantai Aodeke Automotive Equipment Technology Co., Ltd. remits all the remaining money to the bank account designated by Huachangda Intelligent Equipment Group Co., Ltd. For the year ending December 31, 2018, Hubei Wanglian Intelligent Equipment Co., Ltd. reported total assets of CNY 670.9 million, net assets of CNY 370.9 million, operating income of CNY 56.3 million and net loss of CNY 0.87 million. The present transaction does not need approval from the shareholders’ meeting of Huachangda Intelligent Equipment Group Co., Ltd. and was approved on November 22, 2019 by the 31st meeting of the 3rd directorate of Huachangda Intelligent Equipment Group Co., Ltd.
Yantai Aodeke Automotive Equipment Technology Co., Ltd. cancelled the acquisition of Hubei Wanglian Intelligent Equipment Co., Ltd. from Huachangda Intelligent Equipment Group Co., Ltd. (SZSE:300278) on November 22, 2020.
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.
HUACHANGDA INTELLIGENT EQUIPMENT GROUP CO.,LTD. 
