Zhuji Changshun Enterprise Management Consulting Partnership Enterprise (Limited Partnership), Huijia Huajian Investment Partnership Enterprise (Limited Partnership), Huijia Mingxing Investment Partnership Enterprise (Limited Partnership), Han Fenqin, Li Hongwei and Feng Ling entered into an agreement to acquire Zhejiang Lutong Electrics and Mechanics Manufacturing Co., Ltd. from Roshow Technology Co., Ltd. for CNY 250 million.
March 18, 2021
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Zhuji Changshun Enterprise Management Consulting Partnership Enterprise (Limited Partnership), Huijia Huajian (Zhuhai) Investment Partnership Enterprise (Limited Partnership), Huijia Mingxing (Zhuhai) Investment Partnership Enterprise (Limited Partnership), Han Fenqin, Li Hongwei and Feng Ling entered into an agreement to acquire Zhejiang Lutong Electrics and Mechanics Manufacturing Co., Ltd. from Roshow Technology Co., Ltd. (SZSE:002617) for CNY 250 million on March 18, 2021. Under the terms, Zhuji Changshun Enterprise Management Consulting Partnership Enterprise (Limited Partnership) will acquire 55.86%, Huijia Huajian (Zhuhai) Investment Partnership Enterprise (Limited Partnership) will acquire 11.98%, Huijia Mingxing (Zhuhai) Investment Partnership Enterprise (Limited Partnership) will acquire 0.16%, Han Fenqin will acquire 12%, Li Hongwei and Feng Ling will acquire 10% stake each in Zhejiang Lutong Electrics and Mechanics Manufacturing Co., Ltd. Zhuji Changshun Enterprise Management Consulting Partnership Enterprise (Limited Partnership) will pay CNY 69.85 million before March 31, 2021, and CNY 69.79 million before March 31, 2022 and the other buyers will make a one-time payment before March 31, 2021. Zhejiang Lutong Electrics and Mechanics Manufacturing Co., Ltd. reported total assets of CNY 571.4 million, total liabilites of CNY 439.3 million and net assets of CNY 132 million as on September 30, 2020. This has been approved in the 3rd Meeting of Roshow Technology Co., Ltd.'s 5th Directorate held on March 18, 2021, and is subject to the shareholders’ approval.
Roshow Technoiogy Co.,Ltd is a China-based company principally engaged in the production and sale of enameled wires, electromechanical products and sapphire products. The enameled wire business mainly produces high temperature copper enameled wires, fine copper wires and high temperature aluminum enameled wires, with the products used in electric tools, motors, household appliances, electronics, communications and transportation. The electrical and mechanical service business mainly provides new energy motors, turbochargers and sapphire crystal furnaces and other mechanical and electrical products. The sapphire business mainly provides sapphire, which is used in light-emitting diode (LED) substrate materials, consumer electronics and optical components. Through its subsidiary, the Company is also involved in the new energy automotive business. The Company distributes its products in domestic market and to overseas markets.
ROSHOW TECHNOLOGY CO., LTD. 
