AVCON Information Technology Co., Ltd. acquired an additional 10.75% stake in Zhengzhou Xin Yi Hua Medical Technology Co.,Ltd. from Henan Shiqi Enterprise Management Co., Ltd. for CNY 21.6 million.
April 31, 2021
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AVCON Information Technology Co., Ltd. (SZSE:300074) agreed to acquire an additional 10.75% stake in Zhengzhou Xin Yi Hua Medical Technology Co.,Ltd. from Henan Shiqi Enterprise Management Co., Ltd. for CNY 21.6 million on April 1, 2021. AVCON Information Technology Co., will use its own funds for the acquisition. Post completion, AVCON Information Technology Co. will hold 36.86% stake in Zhengzhou Xin Yi Hua Medical Technology Co.,Ltd. and Henan Shiqi Enterprise Management Co., Ltd. will hold 35.5% stake. As of December 31, 2020, Zhengzhou Xin Yi Hua Medical Technology Co. reported total assets of CNY 136.1 million and net assets of CNY 46.1 million, operating income of CNY 106.8 million and net profit of CNY 23.6 million. The transaction was reviewed and approved at the 35th (temporary) meeting of the 4th Board of Directors and the 32nd Meeting of the 4th Board of Supervisors of AVCON Information Technology Co., Ltd. on April 1, 2021. The transaction does not need to be submitted to the shareholders meeting for deliberation.
AVCON Information Technology Co.,Ltd. is a China-based company principally engaged in the research, development, design, distribution and technical service provision of audio and video communication products and image intelligent integration applications. The Company primarily provides intelligent multimedia communication solutions, including video conference system, emergency command system, intelligent city, online education, intelligent healthcare, video bank and video monitoring control system, among others. The Company is also involved in the development of related technology and the provision of after-sale services. The Company operates its business in domestic market.
AVCON Information Technology Co., Ltd. acquired an additional 10.75% stake in Zhengzhou Xin Yi Hua Medical Technology Co.,Ltd. from Henan Shiqi Enterprise Management Co., Ltd. for CNY 21.6 million.