Shenzhen WOTE Advanced Materials Co.,Ltd completed the acquisition of remaining 49% stake in Shanghai WOTE Huaben Semiconductor Technology Co., Ltd. from Valqua, Ltd..
June 01, 2024
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Shenzhen WOTE Advanced Materials Co.,Ltd (SZSE:002886) agreed to acquire remaining 49% stake in Shanghai WOTE Huaben Semiconductor Technology Co., Ltd. from Valqua, Ltd. (TSE:7995) for CNY 60.27 million on February 28, 2024. Shanghai WOTE Huaben Semiconductor Technology Co., Ltd. is already reported Total assets worth CNY 160.7 million, Total revenue of CNY 191.6 million and Net Income of CNY 16.5 million on December 31, 2023. Transaction is already approved by Shenzhen WOTE Advanced Materials board of directors.
Shenzhen WOTE Advanced Materials Co.,Ltd (SZSE:002886) completed the acquisition of remaining 49% stake in Shanghai WOTE Huaben Semiconductor Technology Co., Ltd. from Valqua, Ltd. (TSE:7995) on June 2, 2024.
Shenzhen WOTE Advanced Materials Co Ltd is a China-based company mainly engaged in the research and development, production and sales of modified engineering plastics, modified general-purpose plastics and polymer materials. The Company also provides related technical consulting services and material solutions. The Company's main products include modified general-purpose plastics, engineering plastics and special engineering plastics. Its products are mainly applied in electronics, home appliances, office equipment, communications, automobile, water treatment, aviation and military industries. The Company mainly distributes its products within domestic market and to overseas markets.
Shenzhen WOTE Advanced Materials Co.,Ltd completed the acquisition of remaining 49% stake in Shanghai WOTE Huaben Semiconductor Technology Co., Ltd. from Valqua, Ltd..