Addsino Co., Ltd. agreed to acquire 69% stake in Chongqing Jinmei Communication Co., Ltd. from China Aerospace Xintong Technology Co., Ltd. for CNY 1.26 billion.
December 20, 2021
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Addsino Co., Ltd. (SZSE:000547) agreed to acquire 69% stake in Chongqing Jinmei Communication Co., Ltd. from China Aerospace Xintong Technology Co., Ltd. for CNY 1.26 billion on December 20, 2021. The deal is subject to approval from Addsino Co., Ltd. (SZSE:000547) board. As of December 20, 2021 Addsino Co., Ltd. (SZSE:000547) board approved the deal.
ADDSINO CO.,LTD., formerly CHINASCHOLARS GROUP CO,.LTD. is a China-based company principally engaged in the research, development, manufacture and distribution of command and control communication products, electronic Blue Force and simulation products and electromagnetic security products. The Company's main products include military communication products, experimental radio frequency simulation systems, experimental and field active target simulation systems, radar simulation systems, tactical training simulation systems and electromagnetic protection products, among others. The Company operates its business in domestic market, with North China, East China and southwest area of China as its main markets.
Addsino Co., Ltd. agreed to acquire 69% stake in Chongqing Jinmei Communication Co., Ltd. from China Aerospace Xintong Technology Co., Ltd. for CNY 1.26 billion.