Shaanxi Fenghuo Electronics Co., Ltd. signed a letter of intent to acquire Shaanxi Dadong Technology Industrial Co., Ltd. from Shaanxi Fenghuo Communication Group Co., Ltd. for CNY 95.7 million.
May 28, 2020
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Shaanxi Fenghuo Electronics Co., Ltd. (SZSE:000561) signed a letter of intent to acquire Shaanxi Dadong Technology Industrial Co., Ltd. from Shaanxi Fenghuo Communication Group Co., Ltd. for CNY 95.7 million on May 28, 2020. The consideration will be paid by Shaanxi Fenghuo Electronics 's own funds. Shaanxi Dadong Technology Industrial Co., Ltd. reported total assets of CNY 28.4 million, net profit of CNY 1.65 million and net assets of CNY 8.3 million as of December 31, 2019. The transaction needs approval of shareholders of Shaanxi Fenghuo Electronics Co., Ltd. The transaction is approved by the Board of Shaanxi Fenghuo Electronics Co., Ltd.
Shaanxi Fenghuo Electronics Co., Ltd. is a China-based company principally engaged in the research, development, manufacture and distribution of military and civilian communication equipment and electro-acoustic equipment. The Companyâs main products include shortwave communication equipment, ultra shortwave communication equipment, aviation search and rescue positioning equipment, vehicle or aircraft inner audio control systems, radio frequency identification systems and electronic equipment, among others. The Company distributes its products in domestic market and to overseas markets, including Southeast Asia, Africa, Europe, Americas and others.
Shaanxi Fenghuo Electronics Co., Ltd. signed a letter of intent to acquire Shaanxi Dadong Technology Industrial Co., Ltd. from Shaanxi Fenghuo Communication Group Co., Ltd. for CNY 95.7 million.
SHAANXI FENGHUO ELECTRONICS CO., LTD. 
