Sichuan Jiuzhou Electronic Co., Ltd. agreed to acquire 51.9% stake in Chengdu Jiuzhou Difei Technology Co., Ltd. from Sichuan Jiuzhou Investment Holding Group Co., Ltd. for approximately CNY 140 million.
December 10, 2020
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Sichuan Jiuzhou Electronic Co., Ltd. (SZSE:000801) agreed to acquire 51.9% stake in Chengdu Jiuzhou Difei Technology Co., Ltd. from Sichuan Jiuzhou Investment Holding Group Co., Ltd. for approximately CNY 140 million on April 29, 2020. Within 10 working days from the agreement effective date, Sichuan Jiuzhou Electronic will pay 50% of the transfer price and within 10 working days from the transfer completion date, Sichuan Jiuzhou Electronic will pay 50% of the transfer price. in Chengdu Jiuzhou Difei Technology reported total assets of CNY 448.3 million and net assets of CNY 128.6 million as on June 30, 2020. The transaction is subject to approval by the shareholders of Sichuan Jiuzhou Electronic and was approved by the Board of Sichuan Jiuzhou Electronic.
Sichuan Jiuzhou Electric Co Ltd is a China-based company mainly engaged in the research, development, manufacturing, and sales of intelligent terminal products, air traffic control products, and microwave and radio frequency products. The Company operates five segments. Intelligent Terminal Products segment provides video fusion intelligent terminal and data communication terminal. Air Traffic Control Products segment provides air traffic control system, radar system, communication system, navigation system, and monitoring system, among others. Microwave and Radio Frequency Products segment provides Microwave and Radio Frequency devices, components, modules, machine, system and solutions. Plastic Products segment provides plastic products. Property Services Products segment provides property management services.
Sichuan Jiuzhou Electronic Co., Ltd. agreed to acquire 51.9% stake in Chengdu Jiuzhou Difei Technology Co., Ltd. from Sichuan Jiuzhou Investment Holding Group Co., Ltd. for approximately CNY 140 million.