Zhejiang Shengyang Science and Technology Co., Ltd. completed the acquisition of 43.8% stake in Zhejiang Qiusheng Optoelectronic Technology Co., Ltd. from a group of sellers
August 17, 2021
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Zhejiang Shengyang Science and Technology Co., Ltd. (SHSE:603703) signed an agreement to acquire additional 43.8% stake in Zhejiang Qiusheng Optoelectronic Technology Co., Ltd. from a group of sellers for approximately CNY 230 million on May 12, 2021. Zhejiang Shengyang Science and Technology will acquire 36.8768%, 4.0084%, 2.5938%, 0.0904%, 0.0904%, 0.0598%, 0.0233%, 0.0362%, 0.0346% and 0.0301% from Qiu Jianliang, BOE Technology Group Co., Ltd., Zheng Wumao, Changxing Jiasheng Enterprise Management Consulting Partnership Enterprise (Limited Partnership), Chen Jisen, Ding Rengen, Chen Guanlin, Shaoxing Shenghe Enterprise Management Partnership Enterprise (Limited Partnership) and Lin Hongmei respectively. The financials of Zhejiang Qiusheng Optoelectronic Technology for December 31, 2020, are total assets of CNY 307.8 million, net assets of CNY 150.6 million, revenues of CNY 342.1 million and net profit of CNY 37.7 million. The transaction is approved by the Board of Directors and subject to shareholders approval of Zhejiang Shengyang Science and Technology. As of May 28, 2021, shareholders of Zhejiang Shengyang Science and Technology Co., Ltd. has approved the transaction.
Zhejiang Shengyang Science and Technology Co., Ltd. (SHSE:603703) completed the acquisition of 43.8% stake in Zhejiang Qiusheng Optoelectronic Technology Co., Ltd. from a group of sellers on August 18, 2021.
Zhejiang Shengyang Science and Technology Co., Ltd. is a China-based company principally engaged in the research and development, manufacture and sales of radio frequency cables and related products. Its major products include coaxial cables, data cables, tuners and other products, which are applied in the standard signal transmission systems of televisions and fixed network. The Company is also engaged in the manufacture and sales of high-end consumer communications products. The Company distributes its products with domestic market and to oversea markets.
Zhejiang Shengyang Science and Technology Co., Ltd. completed the acquisition of 43.8% stake in Zhejiang Qiusheng Optoelectronic Technology Co., Ltd. from a group of sellers