Shanghai Shangfeng Group Co., Ltd. and Ye Jinwu signed an agreement to acquire Guizhou Changde Technology Co., Ltd. from Hiconics Eco-energy Technology Co., Ltd. for CNY 16.4 million.
October 14, 2020
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Shanghai Shangfeng Group Co., Ltd. and Ye Jinwu signed an agreement to acquire Guizhou Changde Technology Co., Ltd. from Hiconics Eco-energy Technology Co., Ltd. (SZSE:300048) for CNY 16.4 million on October 14, 2020. The consideration will be paid within 7 days after the signing of this agreement. If the payment is overdue, Shanghai Shangfeng Group Co., Ltd. and Ye Jinwu shall pay 0.22‰ (annualized interest rate 8%) of the equity transfer payment payable to the transferor for liquidated damages for every day overdue, counting until the payment is completed. Guizhou Changde Technology had semi-annual total assets of CNY 19.7 million and net assets of CNY 16.9 million in 2020. Transaction will be effective after the pre-conditions required by laws and regulations are fulfilled (if necessary). The transaction does not need to be submitted to Hiconics Eco-energy Technology's shareholders meeting for review.
Hiconics Eco-energy Technology Co., Ltd., formerly Hiconics Drive Technology Co., Ltd., is a China-based company principally engaged in the research and development(R&D), manufacture and sale of high, medium and low voltage frequency inverters. The Company mainly operates through three segments. Energy Saving Equipment Manufacture segment is involved in the manufacture, R&D and sale of high, middle and low voltage frequency inverters and servo products. Energy Saving and Environmental Protection Project Construction and Operation segment includes landfill gas utilization and waste treatment, industrial waste heat utilization, refractory sewage treatment, industrial energy efficiency and low-emission of coal-fired power plants through its subsidiaries. New Energy Vehicle Assembly and Operation segment is involved in the R&D and manufacture of key components, power assembly systems, charging piles and in-vehicle chargers for new energy vehicles, as well as new energy car rental business.
Shanghai Shangfeng Group Co., Ltd. and Ye Jinwu signed an agreement to acquire Guizhou Changde Technology Co., Ltd. from Hiconics Eco-energy Technology Co., Ltd. for CNY 16.4 million.