Guangdong Rongtai Industry Co.,Ltd agreed to acquire Beijing Jinyun Yachuang IOT Technology Co., Ltd from Hainan Yunzhijin Enterprise Management Partnership Enterprise (Limited Partnership) and Yang Lingya for CNY 120 million.
June 28, 2024
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Guangdong Rongtai Industry Co.,Ltd (SHSE:600589) agreed to acquire Beijing Jinyun Yachuang IOT Technology Co., Ltd from Hainan Yunzhijin Enterprise Management Partnership Enterprise (Limited Partnership) and Yang Lingya for CNY 120 million on June 26, 2024. A cash consideration of CNY 72 million will be paid by Guangdong Rongtai Industry Co.,Ltd. Guangdong Rongtai Industry Co.,Ltd will pay an earnout/contingent payment of CNY 48 million cash. As part of consideration, CNY 120 million is paid towards common equity of Beijing Jinyun Yachuang IOT Technology Co., Ltd. The transaction will be financed through equity investment of CNY 120 million.
As of March 31, 2024, Beijing Jinyun Yachuang IOT Technology Co., Ltd reported total assets of 700 CNY million, and net assets of CNY 30 million. The transaction is subject to approval of offer by acquirer shareholders. The deal has been approved by the board of Guangdong Rongtai Industry. As of July 15, 2024, the transaction has been approved by shareholders of Guangdong Rongtai Industry.
GUANGDONG RONGTAI INDUSTRY CO.,LTD is a China-based company principally engaged in manufacture and distribution of melamine (ML) materials. The Companyâs products mainly include ML materials, phthalic anhydride, methanal, imitation ceramics, phthalic anhydride (PA), dibutyl phthalate (DHP), urotropine, fumaric acid, dioctyl phthalate and others. Its products are applied in kitchenware, tableware, aviation appliances and others. The Company also provides Internet comprehensive services. The Company distributes its products within domestic market and to overseas markets, with Guangdong Province, China as its main market.
Guangdong Rongtai Industry Co.,Ltd agreed to acquire Beijing Jinyun Yachuang IOT Technology Co., Ltd from Hainan Yunzhijin Enterprise Management Partnership Enterprise (Limited Partnership) and Yang Lingya for CNY 120 million.
GUANGDONG RONGTAI INDUSTRY CO.,LTD 
