Hebei XuanHua XinDi Insulator Co.,Ltd agreed to acquire Jiangxi Qianglian Electric Porcelain Joint-stock Co. Ltd from Jinlihua Electric Co., Ltd. (SZSE:300069) for CNY 35.5 million on February 17, 2022. Hebei XuanHua XinDi Insulator Co., Ltd. will pay 50% of the consideration within within 10 working days from the agreement effective date, 40% of the consideration within 5 working days after the completion and the remaining within 12 months after the completion. On October 20, 2021, Jiangxi Qianglian Electric Porcelain had total assets worth approximately CNY 113 million and net assets worth approximately CNY 13.06 million. The transaction is subject to Jinlihua Electric's shareholders approval and has been approved by the board of Jinlihua Electric.


Hebei XuanHua XinDi Insulator Co.,Ltd completed the acquisition of Jiangxi Qianglian Electric Porcelain Joint-stock Co. Ltd from Jinlihua Electric Co., Ltd. (SZSE:300069) on April 6, 2022. Jinlihua Electric Co., Ltd. has received 50% of the consideration amount.