Pony Testing Co., Ltd. completed the acquisition of a 70% stake in Shenzhen TCT Testing Technology Co from Tang Haisen.
April 24, 2022
Share
Pony Testing Co., Ltd. (SZSE:300887) agreed to acquire 70% interest in Shenzhen TCT Testing Technology Co from Tang Haisen for CNY 49 million on March 15, 2022. As per the terms, 70% of total consideration paid: RMB 9.8 million shall be paid within 5 working days after the formal Equity Transfer Agreement is signed. 24.5 million equity transfer payment will be paid within 5 working days after the industrial and commercial change. The second phase of consideration: 10% of the total equity consideration will be paid after the Shenzhen TCT Testing Technology issues the 2022 audit report and meets the 2022 performance assessment standards. The third phase of consideration: 10% of the total equity consideration will be paid after the Shenzhen TCT Testing Technology issues the 2023 audit report and meets the 2023 performance assessment standards. The fourth phase of consideration: 10% of the total equity consideration will be paid after the Shenzhen TCT Testing Technology issues the 2024 audit report and meets the 2024 performance assessment standards. Pony Testing Co., Ltd. will use its own funds to finance the deal. As on December 31, 2022, Shenzhen TCT Testing reported total assets of CNY 72.53 million, net assets of CNY 16.78 million, revenues of 67.35 million and net income of CNY 6.99 million. The transaction has been approved by the board of Pony Testing Co., Ltd.
Pony Testing Co., Ltd. (SZSE:300887) completed the acquisition of a 70% stake in Shenzhen TCT Testing Technology Co from Tang Haisen on April 25, 2022.
Pony Testing International Group Co Ltd is a China-based third-party testing company. The Company is mainly engaged in health and environmental testing, including food, agricultural product, drug, health product and cosmetic testing, as well as water quality and environmental monitoring; consumer quality identification testing, including production, distribution and consumption testing of automobiles, toys, textiles, and daily chemical products; electronics and safety inspections, as well as safety assurance inspection, mainly involving oil, gas, chemical, mineral and new energy fields. The Company mainly provides its services in food, environment, electronics, automobile and daily chemical fields. The Company mainly conducts its businesses within domestic market.