LuoYang GUOHONG INVESTMENT GROUP CO.,LTD completed the acquisition of 20.3% stake in Saimo Technology Co.,Ltd. from Huatai Securities Asset Management Co., Ltd., China Industrial Securities Asset Management Co.,ltd. and Li Da.
September 29, 2020
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LuoYang GUOHONG INVESTMENT GROUP CO.,LTD signed an agreement to acquire 20.3% stake in Saimo Technology Co.,Ltd. (SZSE:300466) from Huatai Securities (Shanghai) Asset Management Co., Ltd., China Industrial Securities Asset Management Co.,ltd. and Li Da for approximately CNY 650 million on September 15, 2020. Under the terms of the transaction, LuoYang GUOHONG INVESTMENT GROUP CO.,LTD will acquire 108.8 million shares Saimo Technology Co.,Ltd. at CNY 6 per share. LuoYang GUOHONG INVESTMENT GROUP CO.,LTD will acquire 33.3 million shares from Huatai Securities (Shanghai) Asset Management Co., Ltd., 67.2 million shares from China Industrial Securities Asset Management Co.,ltd. and 8.2 million shares from Li Da. Upon completion, Li Da will 112.2 million shares in Saimo Technology Co.,Ltd. LuoYang GUOHONG INVESTMENT GROUP CO.,LTD will pay the purchase price in two installments. The specific payment time and order of payment are as follows: LuoYang GUOHONG INVESTMENT GROUP CO.,LTD shall complete the first phase of the share consideration payment within five working days after the transfer of the underlying shares, and the first phase corresponds to the transfer price of CNY 350 million (including CNY 10 million paid to Li Da in advance). Among them, the corresponding transfer price of CNY200 million is paid to Huatai Securities (Shanghai) Asset Management Co., Ltd., the corresponding transfer price is CNY 100.5 million to China Industrial Securities Asset Management Co.,ltd., and the corresponding transfer price is CNY 49.5 million to Li Da. The second phase of the share transfer price CNY 303 million, LuoYang GUOHONG INVESTMENT GROUP CO.,LTD shall complete the payment of the corresponding transfer price to China Industrial Securities Asset Management Co.,ltd. before March 31, 2021.
LuoYang GUOHONG INVESTMENT GROUP CO.,LTD completed the acquisition of 20.3% stake in Saimo Technology Co.,Ltd. (SZSE:300466) from Huatai Securities (Shanghai) Asset Management Co., Ltd., China Industrial Securities Asset Management Co.,ltd. and Li Da on September 30, 2020.
Saimo Technology Co Ltd, formerly Saimo Electric Co Ltd, is principally engaged in the research and development, manufacturing and sales of measurement and inspection equipment for coal and other mineral materials. Its major measurement equipment is belt weigher, including electronic belt weighers, weighing type coal feeders and weighing feeders. The inspection equipment mainly comprises of mechanical automated inspection device. The Company's products are used in electricity, steel, chemicals, cement materials, ports and other industries.
LuoYang GUOHONG INVESTMENT GROUP CO.,LTD completed the acquisition of 20.3% stake in Saimo Technology Co.,Ltd. from Huatai Securities Asset Management Co., Ltd., China Industrial Securities Asset Management Co.,ltd. and Li Da.
SAIMO TECHNOLOGY CO.,LTD. 
