Dongtai Keyafei Electronic Technology Co., Ltd agreed to acquire Jiangsu Xin Kersen Electronic Technology Co., Ltd from Kunshan Kersen Science & Technology Co.,Ltd. for CNY 50.5 million.
April 20, 2021
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Dongtai Keyafei Electronic Technology Co., Ltd agreed to acquire Jiangsu Xin Kersen Electronic Technology Co., Ltd from Kunshan Kersen Science & Technology Co.,Ltd. (SHSE:603626) for CNY 50.5 million on April 19, 2021. The transfer price will be paid in two installments, Phase 1 The Dongtai Keyafei Electronic Technology Co., Ltd will pay CNY 30 million within 3 months from the date of signing this agreement in Phase 2 Dongtai Keyafei Electronic Technology Co., Ltd will pay the balance of CNY 20.5 million within 6 months after the transferor completes the procedures for industrial and commercial changes. For the period March 31, 2021, Jiangsu Xin Kersen Electronic Technology Co., Ltd reported Total assets of CNY 314 million, negative net assets of CNY 76.5 million, revenue of CNY 177.6 million, net loss of CNY 44 million. Kunshan Kersen Science & Technology Co.,Ltd. held the nineteenth meeting of the third board of directors and the transaction was was reviewed and approved.
Kunshan Kersen Science & Technology Co Ltd is a China-based company mainly engaged in the research and development, design, production and sales of precision metal structural parts. The Company's main products include consumer electronic product structural parts, medical surgical equipment structural parts, automobiles (including new energy vehicles), liquid crystal panels, electronic cigarettes and other end product structural parts. Its products are mainly used in consumer electronics (including e-cigarettes), medical equipment, automobiles, panels and other fields. The Company mainly distributes its products in domestic and overseas markets.
KUNSHAN KERSEN SCIENCE & TECHNOLOGY CO.,LTD. 