Ningbo Kangqiang Electronics Co., Ltd. agreed to acquire remaining 30% stake in Jiangyin Kangqiang Electronics Co., Ltd. from Jiangsu Xinchao Technology Group Co., Ltd. for CNY 70.6 million.
September 27, 2018
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Ningbo Kangqiang Electronics Co., Ltd. (SZSE:002119) signed the equity transfer agreement to acquire remaining 30% stake in Jiangyin Kangqiang Electronics Co., Ltd. from Jiangsu Xinchao Technology Group Co., Ltd. for CNY 70.6 million on September 18, 2018. Post-completion, Jiangyin Kangqiang Electronics will be wholly-owned by Ningbo Kangqiang Electronics. For the year ended December 31, 2017, Jiangyin Kangqiang Electronics reported total assets of CNY 418.4 million, total owner’s equity of CNY 226.9 million, revenue of CNY 328.9 million, operating profit of CNY 41.9 million and net profit of CNY 35.4 million. The equity transfer agreement will take effect after approval by the board of directors of both parties.
Ningbo Kangqiang Electronics Co., Ltd. (SZSE:002119) completed acquisition of remaining 30% stake in Jiangyin Kangqiang Electronics Co., Ltd. from Jiangsu Xinchao Technology Group Co., Ltd. on September 27, 2018. The transaction is approved by the board of directors of Ningbo Kangqiang Electronics at fifth (provisional) meeting of the sixth directorate.
Ningbo Kangqiang Electronics Co., Ltd is a China-based company principally engaged in the manufacture and sales of semiconductor packaging materials. The Company's main products include lead frames, bonding wires, wire-electrode, molds and spare parts, as well as punch products and others. The Company is also engaged in trading business. The Company distributes its products in domestic market and to overseas markets.
NINGBO KANGQIANG ELECTRONICS CO., LTD 