Shenzhen CDL Precision Technology Co., Ltd. completed the acquisition of 36% stake in Guangdong Artes Precision Electronics Co., Ltd. from Sanming Shaxian Situcheng Enterprise Management Service Partnership (General Partnership) and Zhou Guike.
January 08, 2019
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Shenzhen CDL Precision Technology Co., Ltd. (SZSE:300686) signed a letter of intent to acquire an additional 15% stake in Guangdong Artes Precision Electronics Co., Ltd. from Sanming Shaxian Situcheng Enterprise Management Service Partnership (General Partnership) and Zhou Guike on November 2, 2018. Shenzhen CDL Precision Technology Co., Ltd. signed an agreement to acquire a 36% stake in Guangdong Artes Precision Electronics Co., Ltd. from Sanming Shaxian Situcheng Enterprise Management Service Partnership (General Partnership) and Zhou Guike for approximately CNY 130 million on December 12, 2018. Under the terms, Sanming Shaxian Situcheng Enterprise Management Service Partnership (General Partnership) and Zhou Guike will respectively sell 33.28% and 2.72% stake in Guangdong Artes Precision Electronics Co., Ltd. Prior to completion, Shenzhen CDL Precision Technology Co., Ltd. held 15% stake and post completion of the transaction, Shenzhen CDL Precision Technology Co., Ltd. will hold 51% stake in Guangdong Artes Precision Electronics Co., Ltd. The consideration will be paid using own funds.
For the year ended December 31, 2017, Guangdong Artes Precision Electronics Co., Ltd. had total assets of CNY 105.49 million, net assets of CNY 5.36 million, revenue of CNY 133.59 million, operating profit of CNY 5.98 million and net profit of CNY 3.42 million. As of December 13, 2018, the transaction was approved by the Board of Directors of Shenzhen CDL Precision Technology Co., Ltd.
Shenzhen CDL Precision Technology Co., Ltd. (SZSE:300686) completed the acquisition of 36% stake in Guangdong Artes Precision Electronics Co., Ltd. from Sanming Shaxian Situcheng Enterprise Management Service Partnership (General Partnership) and Zhou Guike on January 9, 2019.
Shenzhen CDL Precision Technology Co Ltd is a company engaged in research and development, production and sales of consumer electronic functional and structural devices. The Company's primary products are consumer electronic functional devices, including protective film on the back of glass cover, internal protective film for camera, camera foam, lens foam, lens protective film, camera protective film, battery cover protective film and so on. The Company is also engaged in production of consumer electronic structural devices, automotive electronic devices and mobile phone flash covers.
Shenzhen CDL Precision Technology Co., Ltd. completed the acquisition of 36% stake in Guangdong Artes Precision Electronics Co., Ltd. from Sanming Shaxian Situcheng Enterprise Management Service Partnership (General Partnership) and Zhou Guike.
SHENZHEN CDL PRECISION TECHNOLOGY CO., LTD 