Suzhou Nison International Investment Management Co., Ltd. cancelled the acquisition of Kingclean Electric Information Technology Co., Ltd. from Kingclean Electric Co.Ltd.
May 07, 2020
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Suzhou Nison International Investment Management Co., Ltd. agreed to acquire Kingclean Electric Information Technology (Suzhou) Co., Ltd. from Kingclean Electric Co.Ltd (SHSE:603355) for CNY 20 million on May 8, 2019. The payment for the acquisition will be done in one single installment before May 31, 2019. For the year ended December, 2018, Kingclean Electric Information Technology (Suzhou) Co., Ltd. reported total assets of CNY 16.9 million, net assets of CNY 16.9 million, operating loss of CNY 0 million and net loss of CNY 1.8 million. As of May 8, 2019, the transaction was approved by the 15th meeting of the 4th directorate of Kingclean Electric Co.Ltd.
Suzhou Nison International Investment Management Co., Ltd. cancelled the acquisition of Kingclean Electric Information Technology (Suzhou) Co., Ltd. from Kingclean Electric Co.Ltd (SHSE:603355) on May 8, 2020.
KINGCLEAN ELECTRIC CO. LTD is a China-based company principally engaged in the design, development, manufacture and sales of clean appliances and garden tools. The Company's main products include vacuum cleaners, air purifiers, water purifiers, lawn mowers, blower vacuums, grass trimmers, food processors, juicers and electronic motors for household appliances. The Company owns brands of Lexy, Bewinch and Lexy-Jimmy. The Company operates its business within domestic market and to overseas markets, such as Europe, America, Australia and Southeast Asia.
Suzhou Nison International Investment Management Co., Ltd. cancelled the acquisition of Kingclean Electric Information Technology Co., Ltd. from Kingclean Electric Co.Ltd.
KINGCLEAN ELECTRIC CO.,LTD 
