Meizhou Sentai Industrial Co., Ltd. agreed to acquire Meizhou Fuhua Mining Co., Ltd. from Guangdong Chaohua Technology Co., Ltd (SZSE:002288) for CNY 8 million on August 19, 2019. Payment for the acquisition will be done in one single installment within 10 days since signing of the respective agreement. For the year ended December 31, 2019, Meizhou Fuhua Mining Co., Ltd. reported total assets of CNY 3 million, net assets of CNY 1.4 million, operating loss of CNY 0.4 million and net loss of CNY 0.4 million. Guangdong Chaohua Technology Co., Ltd's 22nd meeting of the 5th directorate approved the transaction.
Guangdong Chaohua Technology Co., Ltd. is a China-based company, principally engaged in the manufacture and distribution of electronic components. The Company's main products are printed circuit boards (PCBs), including double-sided boards, multi-layer boards, aluminum-based boards and ceramic-based boards, and copper-clad laminates (CCLs), electrolytic copper foils, prepreg, wood pulp papers, moulds and printing ink, among others. Through its subsidiaries, the Company is also engaged in the import and export of electronic products, as well as the sales of mineral products. The Company distributes its products within domestic market and to overseas markets.
GUANGDONG CHAOHUA TECHNOLOGY CO., LTD 
