China Electronics Corporation completed the acquisition of 11.4% stake in Chengdu CEC Panda Display Technology Co., Ltd. from Nanjing Huadong Electronics Information & Technology Co., Ltd..
December 13, 2020
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China Electronics Corporation completed the acquisition of 11.4% stake in Chengdu CEC Panda Display Technology Co., Ltd. from Nanjing Huadong Electronics Information & Technology Co., Ltd. (SZSE:000727) for CNY 1.5 billion on September 5, 2020. Consideration will be paid in cash. As of June 30, 2020, Chengdu CEC Panda Display Technology Co., Ltd. reported total assets of CNY 18.3 billion. The transaction is subject to approval from Board of Directors of China Electronics Corporation, shareholders of Nanjing Huadong Electronics Information & Technology Co., Ltd., regulatory approval. The transaction is approved by Board of Directors of Nanjing Huadong Electronics Information & Technology Co., Ltd. and Chengdu CEC Panda Display Technology Co., Ltd. On November 2, 2020, This transaction has obtained the filing procedures of the Ministry of Commerce regarding overseas investment projects. This transaction has been approved by China Electronics Corporation. CITIC Securities Company Limited (SHSE:600030) acted as financial advisor to Nanjing Huadong Electronics Information & Technology Co., Ltd. in transaction.
China Electronics Corporation completed the acquisition of 11.4% stake in Chengdu CEC Panda Display Technology Co., Ltd. from Nanjing Huadong Electronics Information & Technology Co., Ltd. (SZSE:000727) on December 14, 2020. As of December 11, 2020, Nanjing Huadong Electronics Information & Technology received the full transfer price of CNY 1.49 billion
TPV Technology Co Ltd, formerly Nanjing Huadong Electronics Information & Technology Co Ltd, is a China-based company principally engaged in the research and development, manufacturing, sales and service of display products. The Company operates its businesses through three segments. The Display segment is engaged in the production of computer monitors, wide screens, curved surfaces, e-sports and commercial displays. The Television (TV) Segment develops smart TV technology based on market conditions and user needs, and provides smart TV products that meet the consumer's audiovisual experience. The Other Business segment is mainly engaged in the sales of audio-visual products, spare parts, phones, tablets and all-in-one computers. The Company distributes its products both in the domestic market and to overseas markets.
China Electronics Corporation completed the acquisition of 11.4% stake in Chengdu CEC Panda Display Technology Co., Ltd. from Nanjing Huadong Electronics Information & Technology Co., Ltd..
TPV TECHNOLOGY CO., LTD. 
