Wuhan Tongyu Investment Partnership Enterprise (Limited Partnership) fund managed by Tibet Lianchuang Yongyuan Equity Investment Co., Ltd. completed the acquisition of 24.58% stake in Wuhan Tianyu Information Industry Co., Ltd. from Wuhan Huagong Venture Capital Co., Ltd. and Wuhan HUST High-tech Group Co. Ltd.
September 01, 2021
Share
Wuhan Tongyu Investment Partnership Enterprise (Limited Partnership) fund managed by Tibet Lianchuang Yongyuan Equity Investment Co., Ltd. signed an agreement to acquire 24.58% stake in Wuhan Tianyu Information Industry Co., Ltd. (SZSE:300205) from Wuhan Huagong Venture Capital Co., Ltd. and Wuhan HUST High-tech Group Co. Ltd. for CNY 1.1 billion on March 21, 2021. Under the terms of transaction, Tongyu Investment will acquire 21.9% stake equivalent to 94.13 million from Wuhan Huagong Venture Capital Co., Ltd. and 2.7% stake equivalent to 11.6 million from Wuhan HUST High-tech Group Co. Ltd. As of May 10, 2021, Wuhan Tianyu Information Industry received approval from the Finance Department of the Ministry of Education. The public solicitation and transfer of this time still need to be reviewed by the State Administration of Market Supervision and Administration and Ministry of Education and the Ministry of Finance, and has passed the review of the concentration of operators by the State Administration for Market Regulation.
Wuhan Tongyu Investment Partnership Enterprise (Limited Partnership) fund managed by Tibet Lianchuang Yongyuan Equity Investment Co., Ltd. completed the acquisition of 24.58% stake in Wuhan Tianyu Information Industry Co., Ltd. (SZSE:300205) from Wuhan Huagong Venture Capital Co., Ltd. and Wuhan HUST High-tech Group Co. Ltd. on September 2, 2021.
Wuhan Tianyu Information Industry Co., Ltd is a China-based company principally involved in the development, manufacture, distribution and services of smart card products and related application systems. The Company primarily provides smart cards including communication smart cards, financial integrated circuit (IC) cards, intelligent traffic card, among others; terminal, including tax control disk and intelligent point of sale (POS), among others. Its products are applied in communications, finance and electronic payment, mobile multimedia broadcasting television, taxation, intelligent transportation, medical electronics and mobile Internet, among others. The Company also involves in the provision of technical services and development, as well as system integration business.
Wuhan Tongyu Investment Partnership Enterprise (Limited Partnership) fund managed by Tibet Lianchuang Yongyuan Equity Investment Co., Ltd. completed the acquisition of 24.58% stake in Wuhan Tianyu Information Industry Co., Ltd. from Wuhan Huagong Venture Capital Co., Ltd. and Wuhan HUST High-tech Group Co. Ltd.