Shenzhen Maxonic Automation Control Co., Ltd. agreed to acquire 51% stake in Guangzhou Jingxin Instrument Electric Co., Ltd. from Hubei Gengchang Enterprise Management Consulting Partnership (Limited Partnership) for CNY 25.5 million.
April 28, 2021
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Shenzhen Maxonic Automation Control Co., Ltd. (SZSE:300112) agreed to acquire 51% stake in Guangzhou Jingxin Instrument Electric Co., Ltd. from Hubei Gengchang Enterprise Management Consulting Partnership (Limited Partnership) for CNY 25.5 million on April 27, 2021. An advance payment of CNY 7.5 million shall be paid within 5 working days after the signing of the agreement and the remaining transaction consideration of CNY 18 million shall be paid within 5 working days after Guangzhou Jingxin Instrument Electric completes the registration of industrial and commercial changes. After the transaction, Hubei Gengchang Enterprise Management Consulting Partnership (Limited Partnership) will hold no stake in Guangzhou Jingxin Instrument Electric Co., Ltd. Guangzhou Jingxin Instrument Electric Co., Ltd. reported total assets of CNY 21.04 million and net assets of CNY 19.1 million as at December 31, 2020. Guangzhou Jingxin Instrument Electric Co., Ltd. reported revenues of CNY 13.91 million and net profit of CNY 7.79 million in 2020. The Board of Directors of Shenzhen Maxonic Automation Control Co., Ltd. approved the transaction on April 27, 2021.
Shenzhen Maxonic Automation Control Co., Ltd. is a China-based company principally engaged in the research, development, manufacture and sales of industrial automation instrument. The Company operates through two main segments. The Industrial Automatic Controlling segment is mainly engaged in the manufacture and sales of field instrument, secondary instrument and others, pressure instrument and accessories. The segmentâs main business is also engaged in the engineering installation. The Others segment is mainly engaged in the import and export of goods and technologies.
SHENZHEN MAXONIC AUTOMATION CONTROL CO., LTD. 
