Guizhou Space Appliance Co., LTD agreed to acquire a 68% stake in Shenzhen Casic Motor System Co.,Ltd from Linquan Aerospace Motor Co., Ltd. for CNY 58 million.
June 27, 2022
Share
Guizhou Space Appliance Co., LTD (SZSE:002025) agreed to acquire a 68% stake in Shenzhen Casic Motor System Co.,Ltd from Linquan Aerospace Motor Co., Ltd. for CNY 58 million on June 25, 2022. The consideration will be paid by own funds. The first payment is 30,468,940.47 yuan , payment time: within 3 working days and second payment is 27,500,000.00 yuan , payment time: 1 fiscal year from the delivery date. As of year ended March 31, 2022, Shenzhen Casic Motor System Co.,Ltd reported total assets of CNY 69.93 million and total common equity of CNY 27.99 million.
Guizhou Space Appliance Co., LTD is principally engaged in the research, development, manufacture and sale of electronic components. The Company primarily offers relay series, including temperature relays, timing relays, special relays, counterbalance relays sealed electromagnetic relays and solid state relays; connector series, including airproof connectors, radio frequency (RF) coaxial connectors and optical fiber connectors, among others, as well as electrical motors, including servo motors, brushless direct current motors and direct current torque motors, among others. The Company's products are mainly applied in space, aviation, electronics, communications, industrial control, precision instruments, ships, satellites and other industries. The Company distributes its products throughout China.
Guizhou Space Appliance Co., LTD agreed to acquire a 68% stake in Shenzhen Casic Motor System Co.,Ltd from Linquan Aerospace Motor Co., Ltd. for CNY 58 million.
GUIZHOU SPACE APPLIANCE CO., LTD 
