Innuovo Technology Co., Ltd. cancelled the acquisition of 19% stake in Zhejiang Innuovo Rehabilitation Equipment Co., Ltd. from Fu Chengxian.
January 07, 2021
Share
Innuovo Technology Co., Ltd. (SZSE:000795) signed the share transfer contract to acquire 19% stake in Zhejiang Innuovo Rehabilitation Equipment Co., Ltd. from Fu Chengxian for CNY 75.5 million on January 8, 2020. Zhejiang Innuovo Rehabilitation Equipment Co., Ltd. had total assets of CNY 120.4 million, net assets of CNY 44.6 million as at November 30, 2019. On January 8, 2020, the 16th session of Innuovo Technology Co., Ltd.'s 8th directorate approved the acquisition.
Innuovo Technology Co., Ltd. (SZSE:000795) cancelled the acquisition of 19% stake in Zhejiang Innuovo Rehabilitation Equipment Co., Ltd. from Fu Chengxian on January 8, 2021.
INNUOVO TECHNOLOGY CO.,LTD., formerly TAIYUAN TWIN TOWER ALUMINUM OXIDE CO., LTD., is a China-based company principally engaged in the research, development, manufacture and distribution of rare-earth permanent magnetic materials and products, motor products, as well as logistics and intelligent fire equipment. The Companyâs main products include neodymium iron boron, motors, Automated Storage and Retrieval Systems (AS/RS) and diamond products. The Company operates its businesses in domestic market and overseas markets.
INNUOVO TECHNOLOGY CO., LTD. 
