Sunwoda Electronic Co.,Ltd agreed to acquire remaining 49% stake in Dongguan Liwinon Energy Technology Co., Ltd. from Lang Hongping for approximately CNY 720 million.
July 17, 2018
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Sunwoda Electronic Co.,Ltd (SZSE:300207) agreed to acquire remaining 49% stake in Dongguan Liwinon Energy Technology Co., Ltd. from Lang Hongping for approximately CNY 720 million on July 18, 2018. 90% of the price will be paid within 2 months since signing of the agreement. The extant 10% will be paid within 20 days since the publication of Dongguan Liwinon Energy Technology’s 2020 annual financial statement. Sunwoda Electronic will use its own funds to acquire 49% stake in Dongguan Liwinon Energy Technology. After completion of the transaction, Sunwoda Electronic will own 100% stake in Dongguan Liwinon Energy Technology. Dongguan Liwinon Energy Technology reported operating revenue of CNY 683.8 million, total assets of CNY 958.02 million, operating profit of CNY 42.2 million, net income of CNY 38.1 million and owners’ equity of CNY 289.5 million for the year ending December 31, 2017. The transaction was approved by the Board of Sunwoda Electronic.
SUNWODA ELECTRONIC CO., LTD is a China-based company principally engaged in the development, design, production and sale of lithium ion battery modules. The Company operates through two main segments: Industrial Manufacturing segment and Inspection Services segment. The Companyâs lithium ion battery modules include mobile phone and digital series, motor vehicle and power series, precise structural parts series, power management series, laptop series, lithium ion cells, energy storage systems, intelligent hardware series, intelligent manufacture series and others.
Sunwoda Electronic Co.,Ltd agreed to acquire remaining 49% stake in Dongguan Liwinon Energy Technology Co., Ltd. from Lang Hongping for approximately CNY 720 million.
SUNWODA ELECTRONIC CO.,LTD 
