Yunnan Rongzhi Asset Management Co., Ltd. signed an equity transfer agreement to acquire a 7.8% stake in Wingtech Technology Co., Ltd. from Tibet Join In Group Co., Ltd. for CNY 1.5 billion.
September 16, 2018
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Yunnan Rongzhi Asset Management Co., Ltd. signed an equity transfer agreement to acquire a 7.8% stake in Wingtech Technology Co., Ltd. (SHSE:600745) from Tibet Join In Group Co., Ltd. for CNY 1.5 billion on September 14, 2018. Under the terms, Tibet Join In Group Co., Ltd. will transfer 50 million shares of Wingtech Technology Co., Ltd. to Yunnan Rongzhi Asset Management Co., Ltd. As consideration, Yunnan Rongzhi Asset Management Co., Ltd. will make a first payment of CNY 200 million within 3 days since the signing of the agreement, second payment of CNY 257.5 million before September 15, 2018 and within 2 days since the approval of the transaction by Shanghai Stock Exchange, and before October 30, 2018 and within 30 days since completion of underlying equity, Yunnan Rongzhi Asset Management Co., Ltd. will make a payment of CNY 1.1 billion. After the transaction, shareholding of Tibet Join In Group Co., Ltd. in Wingtech Technology Co., Ltd. will decrease from 7.8489% to 0.0029% while shareholding of Yunnan Rongzhi Asset Management Co., Ltd. will increase from 0% to 7.8460%.
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 equity transfer agreement to acquire a 7.8% stake in Wingtech Technology Co., Ltd. from Tibet Join In Group Co., Ltd. for CNY 1.5 billion.
WINGTECH TECHNOLOGY CO.,LTD 
