Beijing Fuxing Xiaocheng Electronic Technology Stock Co., Ltd cancelled the transaction announced on August 1, 2014
September 12, 2015
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Beijing Fuxing Xiaocheng Electronic Technology Stock Co., Ltd (SZSE:300139) announced a private placement of not more than 10,000,000 shares at CNY 25.82 per share for gross proceeds CNY 258,200,000 with existing investor, Cheng Yi, Chairman of the company on August 1, 2014. The investor acquired total stake of 5.43% in the transaction to increase its stake to 34.17% in the company. The transaction was approved at 9th session of its 5th directorate meeting of the company. The transaction still needs to be approved by the company's shareholders' meeting and by China Securities Regulatory Commission. On the same date, the company and investor signed the conditional share subscription contract.
On August 4, 2014, the company announced that it will seek shareholders' approval in its 2nd extraordinary general meeting of 2014 to be held on August 18, 2014.
On August 18, 2014, the company announced that the transaction has been approved by its shareholders.
On September 13, 2015, Beijing Fuxing Xiaocheng Electronic Technology Stock Co., Ltd cancelled the transaction.
Beijing Xiaocheng Technology Stock Co Ltd is a company mainly engaged in gold mining, production, processing and sales. The Company operates four segments. Gold Mining Business segment is engaged in gold mining, production, processing and sales. Ghana Build-Operate-Transfer (BOT) Project Operation, Distribution Network Transformation and Power Generation Business segment is engaged in BOT projects for prepayment meter installation and line loss reduction projects, and undertakes distribution network line transformation projects. Integrated Circuit Design Business and Watt Hour Meter Manufacturing Business segment are mainly engaged in the design and development of a series of integrated circuit products such as power line carrier chips. South Africa Public Private Partnership (PPP) Business segment is engaged in the design, installation and transformation of smart grid and special smart metering system for water resources metering, energy conservation and emission reduction projects.
BEIJING XIAOCHENG TECHNOLOGY STOCK CO., LTD 
