Yunnan Rongzhi Asset Management Co., Ltd. signed an agreement to acquire 5% stake in Wingtech Technology Co., Ltd. from Donghai Funds - XingLong No.72 Asset Management Plan (Second phase) and Donghai Funds - XingLong No.72 Asset Management Plan (First phase), funds managed by Donghai Funds Management Co., Ltd. for approximately CNY 710 million.
August 01, 2017
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Yunnan Rongzhi Asset Management Co., Ltd. signed an agreement to acquire 8.8% stake in Wingtech Technology Co., Ltd. (SHSE:600745) from Donghai Funds Management Co., Ltd. for CNY 1.3 billion on July 31, 2017. As per terms, 56.1 million shares will be acquired at CNY 22.35 per share from two fund plans managed by Donghai Funds. Post completion, Donghai Funds Management Co., Ltd. will not hold any stake in Wingtech Technology Co., Ltd. On October 10, 2017, the terms of the transaction were amended. Yunnan Rongzhi Asset Management Co., Ltd. will now acquire 31.9 million shares representing 5% stake. Donghai Funds - XingLong No.72 Asset Management Plan (Second phase) and Donghai Funds - XingLong No.72 Asset Management Plan (First phase), funds managed by Donghai Funds Management Co., Ltd. will transfer 28.04 million and 3.82 million shares respectively.
WINGTECH TECHNOLOGY CO., LTD, formerly JOIN-IN (HOLDING) CO.,LTD., is a China-based company principally engaged in the research, development and manufacture of mobile terminals and smart hardware products. The Company operates three business segments. The Electronic Equipment Manufacturing Business segment is mainly engaged in the research and manufacturing of mobile internet equipment products mainly based on smart phones. The Real Estate and Hotel Supporting Business segment is principally engaged in real estate development and operation, property management, hotel investment and hotel management. The Investment Management Business segment is principally engaged in investment management business. The Company's main products include mobile communication products and mobile communication equipment and commercial housing. The Company operates its businesses within the domestic market and to overseas markets.
Yunnan Rongzhi Asset Management Co., Ltd. signed an agreement to acquire 5% stake in Wingtech Technology Co., Ltd. from Donghai Funds - XingLong No.72 Asset Management Plan (Second phase) and Donghai Funds - XingLong No.72 Asset Management Plan (First phase), funds managed by Donghai Funds Management Co., Ltd. for approximately CNY 710 million.
WINGTECH TECHNOLOGY CO.,LTD 
