Nanjing Panda Information Industry Group Co., Ltd. completed the acquisition of 61% stake in Nanjing Huadong Electronics Vacuum Material Co., Ltd., 100% stake in Nanjing Huari Touch Display Technology Co., Ltd.,
December 09, 2020
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Nanjing Panda Information Industry Group Co., Ltd. agreed to acquire 61% stake in Nanjing Huadong Electronics Vacuum Material Co., Ltd., 100% stake in Nanjing Huari Touch Display Technology Co., Ltd., 75% stake in Nanjing CEC Panda Touch Display Technology Co., Ltd., 70% stake in Nanjing Wally Electronics Technology Co., Ltd., and 83.35% stake in Nanjing China Electronics Panda Crystal Technology Corporation from Nanjing Huadong Electronics Information & Technology Co., Ltd. (SZSE:000727) for approximately CNY 100 million on July 22, 2020. Within 10 working days from the agreement effective date, Nanjing Panda Information Industry Group Co., Ltd. must fully pay the transfer price. For the year ended December 31, 2019, Nanjing Huari Touch Display Technology Co., Ltd., Nanjing CEC Panda Touch Display Technology Co., Ltd., Nanjing Wally Electronics Technology Co., Ltd., and Nanjing China Electronics Panda Crystal Technology Corporation has total assets of CNY 836.14 million, net assets of negative CNY 10.3 million, revenue of CNY 704.8 million and net loss of CNY 57.7 million.
Transaction is subject to shareholders approval and has been approved in the 8th Extraordinary Meeting of Nanjing Huadong Electronics Information & Technology Co., Ltd. 9th Directorate held on July 21, 2020.
Nanjing Panda Information Industry Group Co., Ltd. completed the acquisition of 61% stake in Nanjing Huadong Electronics Vacuum Material Co., Ltd., 100% stake in Nanjing Huari Touch Display Technology Co., Ltd., 75% stake in Nanjing CEC Panda Touch Display Technology Co., Ltd., 70% stake in Nanjing Wally Electronics Technology Co., Ltd., and 83.35% stake in Nanjing China Electronics Panda Crystal Technology Corporation from Nanjing Huadong Electronics Information & Technology Co., Ltd. (SZSE:000727) for approximately CNY 100 million on December 10, 2020. The Nanjing Huadong Electronics Information & Technology already received the full transfer price of CNY 102.938 million.
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.
Nanjing Panda Information Industry Group Co., Ltd. completed the acquisition of 61% stake in Nanjing Huadong Electronics Vacuum Material Co., Ltd., 100% stake in Nanjing Huari Touch Display Technology Co., Ltd.,
TPV TECHNOLOGY CO., LTD. 
