Wuhu Conch Investment Ltd. cancelled the acquisition of 10% stake in Chongqing Environmental Fund Co., Ltd. from Chongqing Mas Sci.&Tech. Co., Ltd..
April 24, 2020
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Wuhu Conch Investment Ltd. agreed to acquire 10% stake in Chongqing Environmental Protection Industry Equity Investment Fund Management Co., Ltd. from Chongqing Mas Sci.&Tech. Co., Ltd. (SZSE:300275) for CNY 2 million on April 24, 2019. Consideration will be paid directly to Chongqing Mas Sci.&Tech. Co., Ltd. bank account within 15 days from the effective date of the agreement. For the year ended December 31, 2018, Chongqing Environmental Protection Industry Equity Investment Fund Management Co., Ltd. has total assets of CNY 27.3 million, net assets of CNY 14.5 million, operating revenue of CNY 10 million, operating profit of CNY 1.3 million and net profit of CNY 1.2 million. Transaction is subject to Chongqing Environmental Protection Industry Equity Investment Fund Management Co., Ltd. shareholders approval. The transaction has been reviewed and approved by the Board of Directors and need not be submitted to the shareholders meeting for consideration.
Wuhu Conch Investment Ltd. cancelled the acquisition of 10% stake in Chongqing Environmental Protection Industry Equity Investment Fund Management Co., Ltd. from Chongqing Mas Sci.&Tech. Co., Ltd. (SZSE:300275) on April 24, 2020.
Chongqing Mas Sci &Tech Co Ltd is a China-based company principally engaged in the research, development and application of Internet of things technology for mining industry. The Company offers three lines of products. Mining products includes Internet of things technology, smart mining solutions, security monitoring systems, positioning systems, and alarming systems, among others. Environment protection products include pollution source monitoring, surface water quality monitoring, and air quality monitoring, among others. Municipal products include smart city management service platform, dangerous gas monitoring system, bridge, slope and tunnel safety monitoring & alarming system, and underground sewage pipeline monitoring system, among others.