Shanghai Belling Co., Ltd. completed the acquisition of Nanjing Micro One Electronics Inc from a group of sellers.
August 05, 2020
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Shanghai Belling Co., Ltd. (SHSE:600171) agreed to acquire Nanjing Micro One Electronics Inc from a group of sellers for approximately CNY 360 million on October 17, 2019. Shanghai Beiling signed share transfer agreement supplement agreement to acquire Nanjing Micro One Electronics Inc from a group of sellers for approximately CNY 360 million on June 23, 2020. For the year ended December 31, 2018, Nanjing Micro One Electronics Inc reported total assets of CNY 174.24 million, total common equity of CNY 100.4 million, revenue of CNY 175.55 million and net profit of CNY 11.9 million. Transaction is subject to approval of shareholders of Shanghai Beiling and regulatory approvals. As on June 23, 2020, transaction is approved by the SASAC. Transaction was approved at the 23rd meeting of the 7th directorate of Shanghai Beilin. As on June 23, 2020, the share purchase agreement has been approved in the 6th Meeting of the 8th directorate of Shanghai Belling. The transaction was approved by the shareholders of Shanghai Belling on July 10, 2020.
Shanghai Belling Co., Ltd. (SHSE:600171) completed the acquisition of Nanjing Micro One Electronics Inc from a group of sellers on August 6, 2020.
Shanghai Belling Corp., Ltd. is a China-based company primarily engaged in the design, production and trading of integrated circuits. The Company's primary products include intelligent metering, universal analog and power management products. The Company's products are mainly used in electricity meters, mobile phones, liquid crystal display (LCD) televisions (TVs), set-top boxes and other types of consumer electronics products. The Company is also involved in the provision of testing and processing services through its subsidiaries.