Konka Group Co., Ltd. cancelled the acquisition of Jiangsu Highstar Battery Manufacturing Co.,Ltd from Tongding Interconnection Information Co., Ltd. and other shareholders.
March 03, 2022
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Konka Group Co., Ltd. (SZSE:000016) agreed to acquire Jiangsu Highstar Battery Manufacturing Co.,Ltd. from Tongding Interconnection Information Co., Ltd. (SZSE:002491) and other shareholders on September 10, 2021. The consideration shall be payable through issuance of shares and cash. 70% of the consideration will be paid by share issuance and 30% of the consideration will be paid by cash. As of April 30, 2021, Jiangsu Highstar Battery Manufacturing Co.,Ltd. has reported total assets of CNY 2.3 billion and net assets of CNY 887.53 million. The Board of Directors of Tongding Interconnection Information Co., Ltd. has approved the transaction.
Konka Group Co., Ltd. (SZSE:000016) cancelled the acquisition of Jiangsu Highstar Battery Manufacturing Co.,Ltd. from Tongding Interconnection Information Co., Ltd. (SZSE:002491) and other shareholders on March 4, 2022. The termination of the transaction is approved by the the fifty-fifth meeting of the ninth board of directors and the nineteenth meeting of the ninth board of supervisors of Konka Group.
Konka Group Co Ltd is a China-based company principally engaged in the consumer electronics and semiconductor business. The Company's consumer electronics business includes multimedia business and white goods business, mainly providing color televisions, refrigerators, washing machines, air conditioners, freezers and other products. The Company's memory chip trading business and semiconductor business are mainly engaged in memory chip trading, packaging and testing of storage products, as well as the research and development of micro-light-emitting diode display-related products. The Company is also engaged in environmental protection and new materials business, mainly recycling, sorting, processing, distribution and sales of renewable resources. The Company's products are sold to domestic and foreign markets.
Konka Group Co., Ltd. cancelled the acquisition of Jiangsu Highstar Battery Manufacturing Co.,Ltd from Tongding Interconnection Information Co., Ltd. and other shareholders.
KONKA GROUP CO., LTD. 
