Tianjin Huanou Semiconductor Material Technology Co., Ltd. cancelled the acquisition of remaining 49% stake in Tianjin Middle Ring Lingxian Material Technology Limited Company from Tianjin Zhonghuan Semiconductor Co., Ltd..
March 22, 2019
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Tianjin Huanou Semiconductor Material Technology Co., Ltd. agreed to acquire remaining 49% stake in Tianjin Middle Ring Lingxian Material Technology Limited Company from Tianjin Zhonghuan Semiconductor Co., Ltd. (SZSE:002129) for approximately CNY 140 million on March 23, 2018. For the year ended December 31, 2017, Tianjin Middle Ring Lingxian Material Technology Limited Company reported total assets of CNY 706.3 million, net assets of CNY 224.7 million, operational income of CNY 375.4 million, and net profit of CNY 8.5 million. The transaction was approved by the 6th meeting of the 5th directorate Tianjin Zhonghuan Semiconductor Co., Ltd. on March 23, 2018.
Tianjin Huanou Semiconductor Material Technology Co., Ltd. cancelled the acquisition of remaining 49% stake in Tianjin Middle Ring Lingxian Material Technology Limited Company from Tianjin Zhonghuan Semiconductor Co., Ltd. (SZSE:002129) on March 23, 2019.
Tianjin Zhonghuan Semiconductor Co., Ltd. (TJSEMI) specializes in the manufacturing and marketing of integrated semiconductor devices for solar energy saving industry. Net sales break down by activity as follows:
- manufacturing of semiconductor materials used in the renewable energy industry (91.1%): monocrystalline silicon wafers, photovoltaic cells, solar modules, etc. used in photovoltaic power generation facilities, new energy electric vehicles, wind inverters and smart transmission networks;
- manufacturing of semiconductors for the consumer electronics industry (8%);
- services (0.1%);
-other (0.8%).
China accounts for 75.3% of net sales.
Tianjin Huanou Semiconductor Material Technology Co., Ltd. cancelled the acquisition of remaining 49% stake in Tianjin Middle Ring Lingxian Material Technology Limited Company from Tianjin Zhonghuan Semiconductor Co., Ltd..