Shenglan Technology Co., Ltd. signed an equity transfer agreement to acquire a 22% stake in Guangzhou Lianjie Precision Technology Co., Ltd from Shenzhen Huansheng Electronic Technology Co., Ltd. for CNY 45 million.
April 19, 2021
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Shenglan Technology Co., Ltd. signed an equity transfer agreement to acquire a 22% stake in Guangzhou Lianjie Precision Technology Co., Ltd from Shenzhen Huansheng Electronic Technology Co., Ltd. for CNY 45 million on April 19, 2021. As per the terms of the agreement, Shenglan Technology Co., Ltd. shall pay CNY 41.5 million within 10 working days from the effective date of this agreement and the remaining CNY 3.5 million shall be paid before December 31, 2021. Within 20 days from the date when Shenglan Technology Co., Ltd. pays the first phase of equity transfer payment to Shenzhen Huansheng Electronic Technology Co., Ltd., Shenzhen Huansheng Electronic Technology Co., Ltd. and Guangzhou Lianjie Precision Technology Co., Ltd shall complete the industrial and commercial registration procedures for the transaction. As a result of the transaction, Shenzhen Huansheng Electronic Technology Co., Ltd. will no longer hold any stake in Guangzhou Lianjie Precision Technology Co., Ltd. The deal will be financed in cash from own funds of Shenglan Technology Co., Ltd. In November 30, 2020, Guangzhou Lianjie Precision Technology Co., Ltd reported a total assets of CNY 192 million and total common equity of CNY 36.9 million.
Shenglan Technology Co Ltd is a China-based company mainly engaged in the research and development, manufacturing and sales of electronic connectors and precision components. Its products are mainly used in consumer electronics, new energy vehicles and other fields. The consumer electronics connectors and components include universal serial bus (USB) connectors, wafer connectors, flexible printed circuit (FPC) connectors, wiring harness connectors, terminals and housings. The new energy vehicle connectors and component products mainly include soft/hard connections, high voltage connectors, charging guns and others. The Company also offers refractive lenses and reflective lenses. The Company distributes its products in domestic market and to overseas markets.
Shenglan Technology Co., Ltd. signed an equity transfer agreement to acquire a 22% stake in Guangzhou Lianjie Precision Technology Co., Ltd from Shenzhen Huansheng Electronic Technology Co., Ltd. for CNY 45 million.
SHENGLAN TECHNOLOGY CO., LTD. 
