Jinhua Chunguang Technology Co.,Ltd entered into an agreement to acquire Suntone Technology Company Limited from Ng Yu Shu Andy for VND 69.2 billion($2.9 million).
December 16, 2020
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Jinhua Chunguang Technology Co.,Ltd (SHSE:603657) entered into an agreement to acquire Suntone Technology Company Limited from Ng Yu Shu Andy for VND 69.2 billion($2.9 million) on December 16, 2020. The consideration will be paid in cash within 15 working days after the completion of the registration of the equity change. Suntone Technology Company Limited reported assets of VND 95.7 billion, liabilities of VND 57.3 billion and shareholder's equity of VND 38.4 billion as of September 30, 2020. The transaction has been reviewed and approved at the fifth meeting of the Jinhua Chunguang Technology's second Board of Directors, and still needs to be reviewed and approved by the Jinhua Chunguang Technology's shareholders meeting.
Jinhua Chunguang Technology Co., Ltd is a China-based company which is mainly engaged in research and development, manufacture and sales of clean electrical hoses and fittings. The Company mainly provides hose and accessory integration solutions for cleaning appliance manufacturers. The Companyâs hose products mainly include flexible hoses, extruded hoses, blown hoses, plastic hoses and composite wound hoses. The Company's accessories mainly include water tanks, reels, floor brushes, elbows, water bags, connectors and handles. The Company's products are mainly used in cleaning appliances such as vacuum cleaners, hanging machines, dishwashers and outdoor cleaning industrial dust removal systems.
Jinhua Chunguang Technology Co.,Ltd entered into an agreement to acquire Suntone Technology Company Limited from Ng Yu Shu Andy for VND 69.2 billion($2.9 million).
JINHUA CHUNGUANG TECHNOLOGY CO.,LTD 
