DongGuan YuTong Optical Technology Co.,Ltd. agreed to acquire a 20% stake in Dongguan Jiuzhou Optical Co., Ltd. from Gu Wenbin, Nie Xinwang and Tan Huajiang for CNY 90 million.
May 25, 2022
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DongGuan YuTong Optical Technology Co.,Ltd. (SZSE:300790) agreed to acquire a 20% stake in Dongguan Jiuzhou Optical Co., Ltd. from Gu Wenbin, Nie Xinwang and Tan Huajiang for CNY 90 million on May 26, 2022. The consideration will be paid in installments comprising; first payment of 30% within 10 working days after this agreement, second payment of 50% within 10 working days after completion of the industrial and commercial registration and remaining payment within 10 working days from the date of the appraisal report issued by the appraisal agency. Prior to the transaction, Gu Wenbin own a 34% stake and Nie Xinwang and Tan Huajiang own a 30% stake each. Post completion, Gu Wenbin, Nie Xinwang and Tan Huajiang each will hold 24.66% stake and DongGuan YuTong will own 20% stake in Dongguan Jiuzhou. Dongguan Jiuzhou had total assets of CNY 245.12 million and net assets of CNY 106.70 million, as of March 31, 2022. The transaction was approved at the fourth meeting of the third board of directors of DongGuan YuTong held on May 26, 2022 and does not need to be submitted to the company's general meeting of shareholders for deliberation.
DongGuan YuTong Optical Technology Co., Ltd. is a China-based company principally engaged in the design, research and development, production and sales of optical lenses products. The Company's products include security lenses, car lenses, machine vision lenses and helmet display eyepieces, among which the security lens is the Company's main product. The Company's products are mainly used in high-precision optical systems such as security monitoring equipment, car cameras and machine vision. The Company mainly distributes its products in the domestic market.
DongGuan YuTong Optical Technology Co.,Ltd. agreed to acquire a 20% stake in Dongguan Jiuzhou Optical Co., Ltd. from Gu Wenbin, Nie Xinwang and Tan Huajiang for CNY 90 million.