Xinhuo Enterprise Management Center (Limited Partnership) signed an agreement to acquire 8% stake in Wiscom System Co., Ltd. from Jiangsu Jinzhi Group Co., Ltd. for approximately CNY 260 million.
April 13, 2022
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Xinhuo Enterprise Management Center (Limited Partnership) signed an agreement to acquire 8% stake in Wiscom System Co., Ltd. (SZSE:002090) from Jiangsu Jinzhi Group Co., Ltd. for approximately CNY 260 million on April 14, 2022. Xinhuo Enterprise Management Center will acquire 32,340,000 shares at CNY 8 per share. Prior to completion, Jiangsu WISCOM Group owns a 34.92% stake and post completion, it will own 26.92% stake and Xinhuo Enterprise Management Center will own an 8% stake in Wiscom System Co. On April 20, 2022, Xinhuo Enterprise has paid the first transfer price of CNY 50 million to Jiangsu WISCOM.
Wiscom System Co., Ltd. is a China-based company, principally engaged in the operation of electric power automation business, information technology (IT) business, electrical engineering design and service business, as well as new energy business. The Company's main products and services consist of power plant electrical automation devices and systems, substation integrated automation devices and systems, intelligent products and services, electric power automation other products, IT services and related products, modular substations, and electric power engineering design and services, among others. The Company operates its business in domestic markets, with Eastern China and Northern China as its major markets.
Xinhuo Enterprise Management Center (Limited Partnership) signed an agreement to acquire 8% stake in Wiscom System Co., Ltd. from Jiangsu Jinzhi Group Co., Ltd. for approximately CNY 260 million.
WISCOM SYSTEM CO., LTD. 
