Zhuzhou Hi-tech Group Co., Ltd. completed the acquisition of 5.89% stake in Jiangmen Kanhoo Industry Co., Ltd from Wan Guojiang and Tang Fen.
December 29, 2020
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Zhuzhou Hi-tech Group Co., Ltd. agreed to acquire 5.89% stake in Jiangmen Kanhoo Industry Co., Ltd (SZSE:300340) from Wan Guojiang and Tang Fen for CNY 200 million on October 29, 2020. Under the terms of the transaction transfer price was determined as CNY 16 per share. Wan Guojiang will transfer 8.08 million unrestricted shares of the company, accounting for 3.81% of the total share capital for CNY 129.3 million, and Tang Fen will transfer 4.41 million shares of the company, accounting for 2.08% of the total share capital for CNY 70.6 million to Zhuzhou Hi-tech Group Co., Ltd. In a related transaction Zhuzhou Hi-tech Group Co., Ltd. will subscribe for Jiangmen Kanhoo Industry Co., non public issuance of shares. After the completion of the transfer and issuance subscription are completed, Zhuzhou Hi-tech Group Co., Ltd. will hold a total of 75.9 million shares of Jiangmen Kanhoo Industry Co., Ltd, accounting for 27.55% of the total share capital.
Zhuzhou Hi-tech Group Co., Ltd. completed the acquisition of 5.89% stake in Jiangmen Kanhoo Industry Co., Ltd (SZSE:300340) from Wan Guojiang and Tang Fen on December 30, 2020.
Jiangmen Kanhoo Industry Co., Ltd. is principally engaged in the research, development, manufacture and distribution of rare earth luminescent materials and lithium battery materials. The Company primarily provides rare earth luminescent materials for power-saving lamps, which are applied in the manufacture of power lamps and rare earth luminescent materials for new-emerging industries, including rare earth luminescent materials for flat panel displays and specialty light sources, which are applied in the manufacture of liquid crystal displays (LCDs), plasma display panels (PDPs) and specialty-use lamps, such as cold cathode fluorescent lamps (CCFLs), light emitting diodes (LEDs), full spectrum lighting lamps, white light LED solid-state lamps, lamps for plants and ultraviolet healthcare lamps, among others. The Company also provides LED fluorescent material and cathode materials for lithium batteries, among others. The Company distributes its products in domestic and overseas markets.
JIANGMEN KANHOO INDUSTRY CO., LTD 
