Ningbo Bird Co.,Ltd. (SHSE:600130) agreed to acquire 51% stake in Ningbo Bird Yilian Electronics Co., Ltd. from Ningbo Bird Investment Co., Ltd. for CNY 3.7 million on July 9, 2020. Out of CNY 3.7 million, CNY 1.9 million will be paid within 5 working days after the signing of the agreement and CNY 1.8 million within 5 working days from the completion of the registration modification. Ningbo Bird Yilian Electronics reported total assets of CNY 35.98 million, net assets of CNY 4.8 million, revenue of CNY 95.6 million and net profit of CNY 1.1 million for the year ending, December 31, 2019. The transaction was approved by the Board of Ningbo Bird Co.,Ltd.
Ningbo Bird Co Ltd is a China-based company mainly engaged in the research and development, production and sales of electronic communication products. The Company's main businesses include mobile phone and motherboard business, Internet of Things (IoT) module foundry business, automotive electronics business such as vehicle-mounted central control panels, as well as smart device business such as face recognition and real-name authentication devices. The Company's products are mainly sold through the BIRD brand and DOEASY brand. The Company principally conducts its businesses in domestic and overseas markets.
