Jiangxi Lianchuang Optoelectronic Science And Technology Co., Ltd. agreed to acquire 65% stake in Nanjing Hanen Animation & Game Co., Ltd. from a group of sellers for approximately CNY 560 million.
May 20, 2016 at 12:00 am EDT
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Jiangxi Lianchuang Optoelectronic Science And Technology Co., Ltd. (SHSE:600363) agreed to acquire 65% stake in Nanjing Hanen Animation & Game Co., Ltd. from a group of sellers for approximately CNY 560 million in cash and stock on May 20, 2016. Jiangxi Lianchuang Optoelectronic Science And Technology will pay cash of CNY 163.8 million and issue 23.9 million shares as consideration. As of December 31, 2015, Nanjing Hanen Animation & Game had total assets of CNY 256.5 million, net assets of CNY 161.57 million, revenue of CNY 168.97 million, operating profit of CNY 55 million and net profit of CNY 41.38 million. The transaction is subject to shareholders’ approval of Jiangxi Lianchuang Optoelectronic Science And Technology and CSRC’s approval. The transaction was approved by the Board of Directors of Jiangxi Lianchuang Optoelectronic Science And Technology Co., Ltd. at the 24th session of 6th directorate meeting on May 20, 2016. Haitong Securities Co., Ltd. and Guotai Junan Securities Co., Ltd. acted as financial advisors for Jiangxi Lianchuang Optoelectronic Science And Technology.
Jiangxi Lian Chuang Optoelectronic Science and Technology Co Ltd is a China-based company principally engaged in the research and development, production and distribution of optoelectronic devices and application products and wire & cable products. Its optoelectronic devices and application products include light emitting diode (LED) chips, LED display and lighting devices and components, back lights and components, intelligent controllers and modules, applied in mobiles and tablets. Its wire & cable products include coaxial-cables and fiber-optic cables. The Company also offers computers and software products. The Company distributes its products within domestic market and to overseas markets.
Jiangxi Lianchuang Optoelectronic Science And Technology Co., Ltd. agreed to acquire 65% stake in Nanjing Hanen Animation & Game Co., Ltd. from a group of sellers for approximately CNY 560 million.