Shaoguan Urban Investment and Development Group Co., Ltd. completed the acquisition of a 24.89% stake in Netac Technology Co., Ltd. (SZSE : 300042) from Guangdong Shaolong Technology Development Co., Ltd.
June 01, 2022
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Shaoguan Urban Investment and Development Group Co., Ltd. agreed to acquire a 24.89% stake in Netac Technology Co., Ltd. (SZSE : 300042) from Guangdong Shaolong Technology Development Co., Ltd. on May 9, 2022. Shaoguan Urban Investment and Development successfully won the judicial auction shares with the highest bid and completed the prepaid auction balance payment on May 9, 2022. Following completion, Shaoguan Urban Investment and Development will own 49,875,000 shares, representing a 24.89% stake in Netac Technology. On May 21, 2022, Shaoguan Urban Investment and Development received the "Enforcement Ruling" issued by the Shanghai No. 1 Intermediate People's Court.
Shaoguan Urban Investment and Development Group Co., Ltd. completed the acquisition of a 24.89% stake in Netac Technology Co., Ltd. (SZSE : 300042) from Guangdong Shaolong Technology Development Co., Ltd. on June 1, 2022.
Netac Technology Co., Ltd. is a China-based company principally engaged in the research, development, production and sales of flash memory application and mobile storage products. The Company is also engaged in the operation of related technology patent and the house leasing business. The Company's main products include flash drives, mobile hard drives, flash memory control chips, solid state drives and flash memory modules. The Company mainly conducts its business in domestic market.
Shaoguan Urban Investment and Development Group Co., Ltd. completed the acquisition of a 24.89% stake in Netac Technology Co., Ltd. (SZSE : 300042) from Guangdong Shaolong Technology Development Co., Ltd.
NETAC TECHNOLOGY CO., LTD. 
