Shandong Hi-speed Company Limited completed the acquisition of 11.7% stake in Shandong Econ Technology CO., LTD. from Konka Group Co., Ltd..
November 24, 2021
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Shandong Hi-speed Company Limited (SHSE:600350) agreed to acquire 11.7% stake in Shandong Econ Technology CO., LTD. from Konka Group Co., Ltd. (SZSE:000016) for approximately CNY 310 million on November 4, 2021.
Shandong Hi-speed Company Limited (SHSE:600350) completed the acquisition of 11.7% stake in Shandong Econ Technology CO., LTD. from Konka Group Co., Ltd. (SZSE:000016) on November 24, 2021. Transaction has been approved by Anti-Monopoly Bureau Concentration Review.
Konka Group Co Ltd is a China-based company principally engaged in the consumer electronics and semiconductor business. The Company's consumer electronics business includes multimedia business and white goods business, mainly providing color televisions, refrigerators, washing machines, air conditioners, freezers and other products. The Company's memory chip trading business and semiconductor business are mainly engaged in memory chip trading, packaging and testing of storage products, as well as the research and development of micro-light-emitting diode display-related products. The Company is also engaged in environmental protection and new materials business, mainly recycling, sorting, processing, distribution and sales of renewable resources. The Company's products are sold to domestic and foreign markets.
KONKA GROUP CO., LTD. 
