Shenzhen Jasic Technology Co.,Ltd. signed an agreement to acquire remaining 49% stake in Shenzhen Solgoo Technology Co., Ltd. from Diao Shouwei and Wu Yu for CNY 67.4 million.
April 26, 2020
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Shenzhen Jasic Technology Co.,Ltd. (SZSE:300193) signed an agreement to acquire remaining 49% stake in Shenzhen Solgoo Technology Co., Ltd. from Diao Shouwei and Wu Yu for CNY 67.4 million on April 26, 2020. According to the Supplementary Agreement to the Transfer Agreement stipulates that the company uses its own funds for the payment of consideration. As per the agreement, Shenzhen Jasic Technology Co.,Ltd. will acquire 36.75% and 12.25% stake from Diao Shouwei and Wu Yu respectively. Post completion, Shenzhen Jasic Technology Co.,Ltd. will hold 100% stake of Shenzhen Solgoo Technology Co., Ltd.For the period ended December 31, 2019, Shenzhen Solgoo Technology Co., Ltd. has reported total assets of CNY 75.1 million, net assets of CNY 41.22 million, revenues of CNY 139.32 million and net profit of CNY 13.97 million. Transaction does not need the approvals of the Shenzhen Jasic Technology Co.,Ltd. ’s Directorate and Shareholders.
SHENZHEN JASIC TECHNOLOGY CO.,LTD. is a China-based company principally engaged in the research, development, manufacture and sales of welding and cutting equipment. The Company's main products are mainly inverter welding machines and welding accessories, including direct current (DC) manual arc welding machines, DC tungsten arc welding machines, alternating current (AC) and DC square wave tungsten arc welding machines, carbon dioxide (CO2) gas shielded welding machines, pulse metal inert gas (MIG) welding machines, double pulse MIG welding machines, DC submerged arc welding machines, double wire AC/DC submerged arc welding machines, air plasma cutter and multi-function welding machines. The Company distributes its products in domestic market and to overseas markets.
Shenzhen Jasic Technology Co.,Ltd. signed an agreement to acquire remaining 49% stake in Shenzhen Solgoo Technology Co., Ltd. from Diao Shouwei and Wu Yu for CNY 67.4 million.