Xu Rong signed an agreement to acquire 52.5717% stake in Kaymao Technology Co., Ltd. from Suzhou Chunxing Precision Mechanical Co., Ltd. and Yingmao Optoelectronics Co., Ltd for CNY 59.4 million.
May 27, 2022
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Xu Rong signed an agreement to acquire 52.5717% stake in Kaymao Technology (Shenzhen) Co., Ltd. from Suzhou Chunxing Precision Mechanical Co., Ltd. (SZSE:002547) and Yingmao Optoelectronics (Xuzhou) Co., Ltd for CNY 59.4 million on May 27. 2022. Xu Rong will acquire 36% stake from Suzhou Chunxing Precision Mechanical Co., Ltd. (SZSE:002547) for CNY 40.70 million and 16.5717% stakes from Yingmao Optoelectronics (Xuzhou) Co., Ltd for CNY 18.73 million. The consideration will be paid in two installments. For the financial period March 31, 2022 Kaymao Technology (Shenzhen) Co., Ltd reported total asset of CNY 264.54692 million, EBIT of CNY -2.337815 million and net profit of CNY -2.47477378 million. The transaction is subject to approval of Suzhou Chunxing Precision Mechanical Co., Ltd. (SZSE:002547) shareholder. As of May 28, 2022 Suzhou Chunxing Precision Mechanical Co., Ltd. (SZSE:002547) shareholders approved the deal.
SUZHOU CHUNXING PRECISION MECHANICAL CO., LTD is a China-based company, principally engaged in the research, development and manufacture of precision light metal structures, mobile radio frequency devices and stamping sheet metal parts. The Company's products include filter structures, radiator structures, automobile cooling system structures, filters, diplexers and combiners, among others. The Company's products are applied in communication equipment, automotives, consumer electronics and frequency converters and other fields. The Company distributes its products within domestic market and to overseas markets.
Xu Rong signed an agreement to acquire 52.5717% stake in Kaymao Technology Co., Ltd. from Suzhou Chunxing Precision Mechanical Co., Ltd. and Yingmao Optoelectronics Co., Ltd for CNY 59.4 million.
SUZHOU CHUNXING PRECISION MECHANICAL CO., LTD. 