Lingda Group Co., Ltd. completed the acquisition of remaining 26.25% stake in Jinzhai Geri New Energy Technology Co., Ltd. from Jinzhai Zhenghai Jiayue Invesmtent Partnership Enterprise (Limited Partnership).
July 27, 2021
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Lingda Group Co., Ltd. (SZSE:300125) agreed to acquire remaining 26.25% stake in Jinzhai Geri New Energy Technology Co., Ltd. from Jinzhai Zhenghai Jiayue Invesmtent Partnership Enterprise (Limited Partnership) for approximately CNY 120 million on June 28, 2021. The transfer payment was paid in three installments, Within 10 days after this contract takes effect, 10% of the equity transfer amount shall be paid, which is CNY 12.375 million, before December 31, 2021, 40% of the equity transfer payment shall be paid, which is 49.5 million yuan and before May 31, 2022, the remaining 50% equity transfer payment shall be paid, which is 61.875 million yuan. The Jinzhai Geri New Energy have reported Total Assets was CNY 1,692 million and Net profit was CNY 43,953 million for the period of March 31, 2021. The transaction have obtained the approval of merger agreement by acquirer board.
Lingda Group Co., Ltd. (SZSE:300125) completed the acquisition of remaining 26.25% stake in Jinzhai Geri New Energy Technology Co., Ltd. from Jinzhai Zhenghai Jiayue Invesmtent Partnership Enterprise (Limited Partnership) on July 28, 2021. Jinzhai Geri New Energy Technology Co., Ltd. becomes a wholly-owned subsidiary Lingda Group Co., Ltd. post deal completion.
Lingda Group Co Ltd, formerly Dalian East New Energy Development Co Ltd, is a China-based company mainly engaged in investment business and photovoltaic power generation business. The Company operates five segments. The Photovoltaic Power Generation Business segment is engaged in the operation of photovoltaic power plants. The Commercial Factoring Business segment is engaged in factoring business. The Naked-eye 3 dimensions (3D) Business segment provides naked-eye 3D / XR general-purpose computing platforms and solutions. The Waste Heat Power Generation Business segment provides services for energy conservation and emission reduction through general contracting, engineering design, equipment manufacturing and complete sets and technical services. Its customers are mainly in the cement industry. The Company also operates Others segment. The Company's investment business areas involve naked-eye 3D, industrial hemp derivative processing and commercial factoring.
Lingda Group Co., Ltd. completed the acquisition of remaining 26.25% stake in Jinzhai Geri New Energy Technology Co., Ltd. from Jinzhai Zhenghai Jiayue Invesmtent Partnership Enterprise (Limited Partnership).