Zhang Wenchao completed the acquisition of additional 41% stake in Hangzhou Lanhai Yongchen Technology Co., Ltd from Shenzhen V&T Technologies Co., Ltd..
September 08, 2021
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Zhang Wenchao entered into letter of intent to acquire an additional 41% stake in Hangzhou Lanhai Yongchen Technology Co., Ltd from Shenzhen V&T Technologies Co., Ltd. (SZSE:300484) on August 23, 2021. Zhang Wenchao signed an agreement to acquire an additional 41% stake in Hangzhou Lanhai Yongchen Technology Co., Ltd from Shenzhen V&T Technologies Co., Ltd. for CNY 4.1 million on August 24, 2021. Upon completion, Shenzhen V&T will hold 10% stake in Hangzhou Lanhai and Zhang Wenchao will hold 72% stake. For June 30, 2021, Hangzhou Lanhai reported total assets of CNY 314 million, net assets of CNY 17.2 million. Transaction has been approved by board of directors of Shenzhen V&T.
Zhang Wenchao completed the acquisition of additional 41% stake in Hangzhou Lanhai Yongchen Technology Co., Ltd from Shenzhen V&T Technologies Co., Ltd. (SZSE:300484) on September 9, 2021.
Shenzhen V&T Technologies Co., Ltd. is a China-based company principally engaged in the research and development, manufacture and sale of industrial automation control products. The Companyâs main products consist of electric vehicle motor controllers, middle- and low-voltage inverters and servo drivers. The Companyâs products are mainly applied in various industries, such as new energy vehicle, crane, air compressor, machine tool, printing and packaging, metallurgy, oil, injection molding machine and press-casting machine. The Company distributes its products mainly in domestic market.
SHENZHEN V&T TECHNOLOGIES CO., LTD. 
