Nancal Technology Co.,Ltd agreed to acquire remaining 30% stake in Nancal Tekong Technology Co., Ltd. from Ningbo Meishan Free Trade Port Area Zhengzhi Investment Management Partnership Enterprise (Limited Partnership) for CNY 1.6 million.
April 25, 2019
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Nancal Technology Co.,Ltd (SHSE:603859) agreed to acquire remaining 30% stake in Nancal Tekong (Beijing) Technology Co., Ltd. from Ningbo Meishan Free Trade Port Area Zhengzhi Investment Management Partnership Enterprise (Limited Partnership) for CNY 1.6 million on April 25, 2019. Nancal Technology Co.,Ltd will use its own funds to finance the transaction. Post completion, Nancal Technology Co.,Ltd will own 100% stake in Nancal Tekong (Beijing) Technology. Nancal Tekong (Beijing) Technology reported total assets of CNY 7.7 million and net assets of CNY 4.1 million as of December 31, 2018 and revenues of CNY 2.6 million and net loss of CNY 0.87 million for the year ended December 31, 2018. The transaction is approved by the Board of Nancal Technology.
Nancal Technology Co., Ltd. is a China-based company mainly engaged in intelligent business. The Company's main business includes intelligent manufacturing and intelligent electrical. Intelligent manufacturing business mainly provides overall solution services to manufacturing enterprises in the fields of aerospace, aerospace, weapons, high-tech electronics, etc., which can be divided into software systems and services, digital production line construction and services, and test bench construction and services. Intelligent electrical business can be divided into industrial electrical products and systems, charging power products and systems, power quality products and systems, and energy management systems. The Company operates its businesses in both domestic and overseas markets.
NANCAL TECHNOLOGY CO.,LTD 
