Chengdu Deruitong Technology Co., Ltd. cancelled the acquisition of 70% stake in Chengdu Selen Advanced Material Technology Co., Ltd. from Shenzhen Selen Science & Technology Co., Ltd..
January 21, 2021
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Chengdu Deruitong Technology Co., Ltd. agreed to acquire 70% stake in Chengdu Selen Advanced Material Technology Co., Ltd. from Shenzhen Selen Science & Technology Co., Ltd. (SZSE:002341) for CNY 49 million on January 22, 2020. Shenzhen Selen Science will sign share transfer agreement with Chengdu Deruitong Technology. Within 10 days after the agreement effective date, Chengdu Deruitong will pay 10% of the transfer price, that is CNY 4.9 million. Before September 30, 2020, Chengdu Deruitong must pay 50% of the transfer price, that is CNY 24.50 million. Before December 31, 2020, Chengdu Deruitong must pay the remaining balance of CNY 19.60 million. On January 22, 2020, the 6th session of Shenzhen Selen Science & Technology’s 5th directorate approved the proposal on the transfer of subsidiary asset. As of September 30, 2019, Chengdu Selen reported total assets of CNY 369.5 million and owner’s equity of 61.7 million.
Chengdu Deruitong Technology Co., Ltd. cancelled the acquisition of 70% stake in Chengdu Selen Advanced Material Technology Co., Ltd. from Shenzhen Selen Science & Technology Co., Ltd. (SZSE:002341) on January 22, 2021.
Xinlun New Materials Co Ltd, formerly Shenzhen Selen Science & Technology Co Ltd is a company mainly engaged in the research and development, production and sales of functional materials. The Company operates four segments. Functional Materials segment is engaged in the production of new materials, including electronic functional materials business, photoelectric display materials business, new energy materials business and precision manufacturing business. Super Clean segment is engaged in the design, construction and maintenance of anti-static and clean room purification projects. Personal Protection segment is engaged in the production of various medical surgical masks, disposable medical protective masks and other protective articles. Precision Mold segment is engaged in the design, processing, production and sales of precision molds, which are used in food, daily chemical and medical industries.
XINLUN NEW MATERIALS CO., LTD. 
