Roshow Technology Co., Ltd. signed share acquisition framework agreement to acquire Jiangsu Dingyang Green Tech Electric Co., Ltd. from a group of shareholders for CNY 550 million.
January 20, 2017
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Roshow Technology Co., Ltd. (SZSE:002617) signed share acquisition framework agreement to acquire Jiangsu Dingyang Green Tech Electric Co., Ltd. from a group of shareholders for CNY 550 million on January 20, 2017. The consideration will be funded from internal funds. Post completion, Jiangsu Dingyang Green Tech Electric Co., Ltd. will operate as a wholly owned subsidiary. For the year ended December 31, 2016, Jiangsu Dingyang Green Tech Electric Co., Ltd. reported revenues of CNY 201.8 million, total assets of CNY 513.4 million, operating profit of CNY 52.5 million, net income of CNY 42.5 million and net assets of CNY 164.5 million. The transaction is subject to approval from the stockholders of Roshow Technology Co., Ltd. On April 28, 2017, the Board of Directors of Roshow Technology Co., Ltd. approved the deal.
Roshow Technoiogy Co.,Ltd is a China-based company principally engaged in the production and sale of enameled wires, electromechanical products and sapphire products. The enameled wire business mainly produces high temperature copper enameled wires, fine copper wires and high temperature aluminum enameled wires, with the products used in electric tools, motors, household appliances, electronics, communications and transportation. The electrical and mechanical service business mainly provides new energy motors, turbochargers and sapphire crystal furnaces and other mechanical and electrical products. The sapphire business mainly provides sapphire, which is used in light-emitting diode (LED) substrate materials, consumer electronics and optical components. Through its subsidiary, the Company is also involved in the new energy automotive business. The Company distributes its products in domestic market and to overseas markets.
Roshow Technology Co., Ltd. signed share acquisition framework agreement to acquire Jiangsu Dingyang Green Tech Electric Co., Ltd. from a group of shareholders for CNY 550 million.
ROSHOW TECHNOLOGY CO., LTD. 
