Shandong Sinocera Functional Material Co., Ltd. completed acquisition of Super Electronic Technology Co., Ltd. from Jiang Lijia and Wang Songming.
January 05, 2017
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Shandong Sinocera Functional Material Co., Ltd. (SZSE:300285) signed an equity transfer agreement to acquire Super Electronic Technology Co., Ltd. from Jiang Lijia and Wang Songming for CNY 20 million on December 8, 2016. Under the terms, the buyer will acquire 1.44 million shares from Jiang Lijia and 0.56 million shares from Wang Songming, representing 72% and 28% stakes respectively. The buyer will use internal funds to pay for the consideration. After the completion of the transaction, Super Electronic Technology Co., Ltd. will become a wholly-owned subsidiary of the buyer. For the period ending December 31, 2015, Super Electronic Technology Co., Ltd. reported total revenues of CNY 13.12 million, net profit of CNY 0.21 million, total profit of CNY 0.26 million, and as at December 31, 2015, total assets of CNY 15.61 million and net assets of CNY 2.39 million. The transaction was approved by the Board of Shandong Sinocera Functional Material Co., Ltd. in the 8th session of the 3rd directorate and does not require the approval of the company's shareholders.
Shandong Sinocera Functional Material Co., Ltd. (SZSE:300285) completed acquisition of Super Electronic Technology Co., Ltd. from Jiang Lijia and Wang Songming on January 6, 2017.
Shandong Sinocera Functional Material Co., Ltd is a China-based company principally engaged in the research and development, production and distribution of ceramic materials. The Companyâs main products include electronic ceramic materials for multiplayer ceramic chip capacitor (MLCC), nanometer scale composite zirconia, high purity superfine alumina, ceramic ink for inkjet printing and electronic paste, among others. The Company's products are mainly applied in electronic information and communication, bio medicine, new energy vehicle, building ceramics, automobile, industrial catalysis and solar photovoltaic industries. The Company distributes its products within domestic markets and to overseas markets.