Kyland Technology Co., Ltd. agreed to acquire an additional 3.3% stake in Beijing Wuxin Technology Co., Ltd. from CDB Technology Venture Capital Co., Ltd. for CNY 13.9 million.
May 25, 2022
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Kyland Technology Co., Ltd. (SZSE:300353) agreed to acquire an additional 3.3% stake in Beijing Wuxin Technology Co., Ltd. from CDB Technology Venture Capital Co., Ltd. for CNY 13.9 million on May 26, 2022. Before the transaction, Kyland Technology was held with 14.33% stake and upon completion it will hold 17.67% stake in Beijing Wuxin Technology. Kyland Technology will use its own funds to finance the acquisition. For December 31, 2021, Beijing Wuxin Technology Co., Ltd. reported Operating income of CNY 33.6 million, net loss of CNY 21.6 million, total assets of CNY 71.3 million and net assets of CNY 24.8 million. The transaction has been approved by the sixth meeting of the sixth board of directors held by Kyland Technology Co., Ltd.
Kyland Technology Co., Ltd. is a China-based company principally engaged in the research and development, manufacture and distribution of network products for military use and industrial use. Its network products for military use and industrial use mainly include Ethernet switches, multi-media command and dispatch systems, precision clock synchronization and gateway products, as well as embedded industrial servers. The Company also provides big data services and network services, including big data analysis and mining and marketing and planning services, among others. The Company operates businesses in both domestic and overseas markets.
Kyland Technology Co., Ltd. agreed to acquire an additional 3.3% stake in Beijing Wuxin Technology Co., Ltd. from CDB Technology Venture Capital Co., Ltd. for CNY 13.9 million.
KYLAND TECHNOLOGY CO., LTD. 
