Taixing Sail New Energy Technology Co., Ltd. signed a share transfer agreement to acquire 6.4% stake in Suzhou Jinfu Technology Co., Ltd. from Shanghai Ruiwei Investment Management Co., Ltd. for approximately CNY 320 million.
October 11, 2020
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Taixing Sail New Energy Technology Co., Ltd. signed a share transfer agreement to acquire 6.4% stake in Suzhou Jinfu Technology Co., Ltd. (SZSE:300128) from Shanghai Ruiwei Investment Management Co., Ltd. for approximately CNY 320 million on September 30, 2020. As per terms, Taixing Sail New Energy Technology Co., Ltd will acquire 70 million shares at CNY 4.5 per share. Upon completion, Taixing Sail New Energy Technology Co., Ltd will hold 6.4% stake and Shanghai Ruiwei Investment Management Co., Ltd. will hold 1.28% stake in Suzhou Jinfu Technology Co., Ltd. The transaction is subject to receive compliance confirmation by the Shenzhen Stock Exchange before the transfer of shares by agreement can be handled at the Shenzhen Branch of China Securities Depository and Clearing Corporation Limited.
Suzhou Jinfu Technology Co., Ltd., formerly Suzhou Jinfu New Material Co.,Ltd., is a China-based company principally engaged in the production and distribution of photoelectrical display thin film components. The Companyâs main products include back light modules (BLUs), liquid crystal modules (LCMs), photoelectrical display thin film components, testing tools and automatic equipment, heat insulation and shock-absorbing products and precision die cutting equipment, among others. The Company's products are mainly applied in laptops, liquid crystal display (LCD) monitors, LCD televisions, mobile phones, digital cameras, digital audio and video players, global position system (GPS) navigators and automobile displays, among others. The Company distributes its products in domestic market and to overseas markets.
Taixing Sail New Energy Technology Co., Ltd. signed a share transfer agreement to acquire 6.4% stake in Suzhou Jinfu Technology Co., Ltd. from Shanghai Ruiwei Investment Management Co., Ltd. for approximately CNY 320 million.