Beijing Unistrong Science & Technology Co., Ltd. cancelled the acquisition of Skypine Electronics Co., Ltd. from Shenzhen Tianjing Investment Partnership Enterprise (Limited Partnership) and Shenzhen Tianchun Investment Partnership Enterprise (Limited Partnership).
January 09, 2018
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Beijing Unistrong Science & Technology Co., Ltd. (SZSE:002383) agreed to acquire Skypine Electronics (Shenzhen) Co., Ltd. from Shenzhen Tianjing Investment Partnership Enterprise (Limited Partnership) and Shenzhen Tianchun Investment Partnership Enterprise (Limited Partnership) for approximately CNY 600 million on January 10, 2017. As consideration, Beijing Unistrong Science & Technology Co., Ltd. will issue shares 15.7 million shares at CNY 38.16 per share. Skypine Electronics (Shenzhen) Co., Ltd. had total assets of CNY 342.6 million, net assets of CNY 76.8 million, operating revenue of CNY 404.2 million and net loss of CNY 5.4 million for the year ended December 31, 2016.
The transaction is approved at internal decision-making meetings of Shenzhen Tianjing Investment Partnership Enterprise (Limited Partnership), Shenzhen Tianchun Investment Partnership Enterprise (Limited Partnership) on January 10, 2017. On January 27, 2017, Skypine Electronics shareholders approved the transaction. On March 6, 2017, Board of Beijing Unistrong Science & Technology approved the transaction. The transaction is subject to approval by second approval of the Beijing Unistrong Science & Technology Directorate after the target assets’ audit and assessment work are completed, Beijing Unistrong Science & Technology shareholders’ approval and CSRC’s approval. Dongxing Securities Co., Ltd. acted as financial advisor for Beijing Unistrong Science & Technology.
Beijing Unistrong Science & Technology Co., Ltd. (SZSE:002383) cancelled the acquisition of Skypine Electronics (Shenzhen) Co., Ltd. from Shenzhen Tianjing Investment Partnership Enterprise (Limited Partnership) and Shenzhen Tianchun Investment Partnership Enterprise (Limited Partnership) on January 10, 2018.
Beijing UniStrong Science & Technology Co Ltd is a China-based company principally engaged in the research and development, manufacture and distribution of satellite navigation products, as well as the provision of related services. The Company's main businesses include Beidou high-precision business, Beidou mobile Internet business, space-time information services and other businesses. Beidou high-precision business provides high-precision products and services for surveying and mapping, precision agriculture and engineering machinery control, navigation applications, deformation monitoring and other fields. Beidou mobile Internet business mainly provides comprehensive solutions including basic software and hardware products for space-time applications, software development and services, engineering construction, product delivery and operation and maintenance services. Space-time information services mainly provide space-time information end + cloud industry solutions.
BEIJING UNISTRONG SCIENCE&TECHNOLOGY CO.,LTD. 
