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    002119   CNE000001R50

NINGBO KANGQIANG ELECTRONICS CO., LTD

(002119)
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Huamao Education Investment Co., Ltd. signed an Equity Transfer Agreement to acquire the remaining 40% stake in Ningbo Huamao Art, Sports and Culture Development Co., Ltd. from Ningbo Kangqiang Electronics Co., Ltd for CNY 42.5 million.

08/18/2020 EST

Huamao Education Investment Co., Ltd. signed an equity transfer agreement to acquire the remaining 40% stake in Ningbo Huamao Art, Sports and Culture Development Co., Ltd. from Ningbo Kangqiang Electronics Co., Ltd (SZSE:002119) for CNY 42.5 million on July 31, 2020. Payment will be done in 1 single installment within 15 days since signing of the agreement. As a result of transaction, Huamao Education Investment Co., Ltd. will hold a 100% stake in Ningbo Huamao Art, Sports and Culture Development Co., Ltd and stake of Ningbo Kangqiang Electronics Co., Ltd in Ningbo Huamao Art, Sports and Culture Development Co., Ltd. will cease to exist. Ningbo Huamao Art, Sports and Culture Development Co., Ltd. reported total assets of CNY 104.37 million, net assets of CNY 103.31 million, operating revenue of CNY 8.05 million and net profit of CNY 3.31 million for the year ended December 31, 2019. On August 14, 2020, the Ningbo Kangqiang Electronics Co., Ltd held the eighteenth meeting of the sixth session of the board of directors, and reviewed and approved the transaction. This transaction is within the scope of authorization of Ningbo Kangqiang Electronics Co., Ltd`s board of directors and does not need to be submitted to the shareholders meeting for deliberation.


ę S&P Capital IQ 2020
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Financials
Sales 2020 1 549 M 245 M 245 M
Net income 2020 87,9 M 13,9 M 13,9 M
Net Debt 2020 406 M 64,2 M 64,2 M
P/E ratio 2020 44,7x
Yield 2020 0,25%
Capitalization 4 875 M 771 M 771 M
EV / Sales 2019 3,73x
EV / Sales 2020 2,76x
Nbr of Employees 922
Free-Float 66,4%
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Managers and Directors
Kang Liang Zheng Deputy General Manager
Xia Rong Yin Chief Financial Officer
Kang Ding Zheng Chairman
Guo Hua Zhou Chairman-Supervisory Board
Xiu Zhu Qian Chairman-Supervisory Board