A group of buyers cancelled the acquisition of 8% stake in Shandong Hualing Electronics Co., Ltd. from Shandong New Beiyang Information Technology Co., Ltd..
June 03, 2020
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Weifang Luxin Kangda Venture Capital Center (Limited Partnership), fund of Luxin Venture Capital Group Co., Ltd. (SHSE:600783) and Shandong Luxin Kangda Investment Management Co., Ltd., Shandong Huachen Finance New Kinetic Venture Capital Partnership (Limited Partnership), Jining Haidaxin Technology Venture Capital Co., Ltd., Shihezi Xinhaike Equity Investment Partnership (Limited Partnership) and Liaocheng Changrun New and Old Kinetic Energy Conversion Fund Partnership (Limited Partnership) agreed to acquire 8% stake in Shandong Hualing Electronics Co., Ltd. from Shandong New Beiyang Information Technology Co., Ltd. (SZSE:002376) for CNY 78.4 million on June 4, 2019. Shandong New Beiyang Information Technology shall sell 7.65 million shares of Shandong Hualing Electronics for CNY 10.25 per share. As per the terms, Weifang Luxin Kangda Venture Capital Center shall receive 3.2 million shares amounting to 3.35% stake for CNY 32.8 million, Shandong Huachen Finance New Kinetic shall receive 1.49 million shares amounting to 1.56% stake for CNY 15.31 million, Jining Haidaxin Technology Venture Capital shall receive 1.19 million shares amounting to 1.24% stake for CNY 12.2 million, Shihezi Xinhaike Equity Investment Partnership shall receive 0.96 million shares amounting to 1% stake for CNY 9.8 million and Liaocheng Changrun New and Old Kinetic Energy Conversion Fund shall receive 0.81 million shares amounting to 0.85% stake for CNY 8.28 million, respectively. For the year ended 2018, Shandong Hualing Electronics reported total assets of CNY 377.29 million, net assets of CNY 317.78 million, revenue of CNY 439.57 million and net income of CNY 68.43 million.
Weifang Luxin Kangda Venture Capital Center (Limited Partnership), fund of Luxin Venture Capital Group Co., Ltd. (SHSE:600783) and Shandong Luxin Kangda Investment Management Co., Ltd., Shandong Huachen Finance New Kinetic Venture Capital Partnership (Limited Partnership), Jining Haidaxin Technology Venture Capital Co., Ltd., Shihezi Xinhaike Equity Investment Partnership (Limited Partnership) and Liaocheng Changrun New and Old Kinetic Energy Conversion Fund Partnership (Limited Partnership) cancelled the acquisition of 8% stake in Shandong Hualing Electronics Co., Ltd. from Shandong New Beiyang Information Technology Co., Ltd. (SZSE:002376) on June 4, 2020.
Luxin Venture Capital Group Co Ltd is a Chinese company mainly engaged in venture capital business and Grinder Industrial Operations. The Company operates through two segments. The Investment Segment is principally engaged in equity investments in new ventures. The Company's key investment areas include information technology, energy conservation and environmental protection, new energy, new materials, biomedicine, high-end equipment manufacturing and other industries. The Grinder Segment is mainly engaged in the production and sales of grinding and abrasive cloth. Its downstream customers are mainly military industry, automobile parts processing, aerospace, and precision processing enterprises.
A group of buyers cancelled the acquisition of 8% stake in Shandong Hualing Electronics Co., Ltd. from Shandong New Beiyang Information Technology Co., Ltd..
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