Wu Jianming cancelled the acquisition of 60% stake in Shanghai Jiatang Electronic Development Co., Ltd from Shanghai Acrel Co., Ltd..
January 08, 2017
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Wu Jianming agreed to acquire 60% stake in Shanghai Jiatang Electronic Development Co., Ltd from Shanghai Acrel Co., Ltd. (SZSE:300286) for CNY 6.5 million on January 8, 2016. Wu Jianming will acquire 11.4 million shares of Shanghai Jiatang Electronic Development. Shanghai Jiatang Electronic Development reported total assets of CNY 32.1 million, total liabilities of CNY 20.06 million, net assets of CNY 12.07 million, revenues of CNY 20.26 million, operating loss of CNY 6.38 million and net loss of CNY 4.37 million for the eleven months ending November 2015. The transaction is subject to approval of shareholders' of Shanghai Acrel Co., Ltd. The Board of Shanghai Acrel Co., Ltd approved the transaction. On January 27, 2016, the deal was approved in the first extraordinary general meeting of 2016.
Wu Jianming cancelled the acquisition of 60% stake in Shanghai Jiatang Electronic Development Co., Ltd from Shanghai Acrel Co., Ltd. (SZSE:300286) on January 8, 2017.
Acrel Co Ltd is a China-based company primarily engaged in the production and sale of enterprise microgrid products and systems. The Company conducts its businesses primarily through three segments. The Enterprise Microgrid Systems and Products segment is engaged in the research and development, production, sales and service of equipment and systems required for energy efficiency management of medium and low voltage enterprise microgrids. The Contract Energy Management segment provides enterprise microgrid energy visualization management and energy data services. The Power Services Business segment is engaged in power services business. The Company mainly conducts its businesses in domestic and overseas markets.
ACREL CO.,LTD. 
