Zongyi Solar Co., Ltd signed an agreement to acquire 33.3% stake in ZONEPE Co., Ltd. from JUSUNG ENGINEERING Co.,Ltd. for $0.1 million (CNY 0.69 million).
October 15, 2018
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Zongyi Solar (Luxembourg) Co., Ltd signed an agreement to acquire 33.3% stake in ZONEPE (Jiangsu) Co., Ltd. from JUSUNG ENGINEERING Co.,Ltd. (KOSDAQ:A036930) for $0.1 million (CNY 0.69 million) on October 12, 2018. After completion of the present transaction ZONEPE (Jiangsu) Co., Ltd. will be a wholly owned subsidiary of Jiangsu Zongyi Co.,LTD (SHSE:600770). ZONEPE (Jiangsu) Co., Ltd reported total assets of CNY 298.9 million and net assets of CNY 106.8 million as of December 31, 2017 and revenues of CNY 31.6 million and net loss of CNY 4.9 million for the year ended December 31, 2017. The transaction is approved by the Board of Jiangsu Zongyi Co.,LTD and there is no need for approval from the shareholders’ meeting.
JUSUNG Engineering Co., Ltd. is a Korea-based company engaged in the development, manufacturing and marketing of semiconductor manufacturing equipment. The Companyâs products consist of semiconductor equipment, including space divided chemical vapor deposition (SD CVD), high density plasma (HDP) CVD equipment, dry etchers, metal-organic (MO) CVD equipment, low pressure (LP) CVD equipment, ultra-high vacuum (UHV) CVD equipment and others; flat panel display (FPD) equipment, including plasma-enhanced (PE) CVD equipment and organic light-emitting diode (OLED) equipment, and solar cell equipment, including thin film (TF) solar cell equipment, crystalline silicon solar cell equipment and others. It also provides raw materials. The Company distributes its products within domestic market and to overseas markets.
Zongyi Solar Co., Ltd signed an agreement to acquire 33.3% stake in ZONEPE Co., Ltd. from JUSUNG ENGINEERING Co.,Ltd. for $0.1 million (CNY 0.69 million).
JUSUNG ENGINEERING CO.,LTD. 
