Excellent School International Education Investment Development Co., Ltd. completed the acquisition of 65% stake in Shanghai Yali Information Technology Co., Ltd. from Dianguang Explosion-Proof Technology Co., Ltd..
October 10, 2020
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Excellent School International Education Investment Development Co., Ltd. agreed to acquire 65% stake in Shanghai Yali Information Technology Co., Ltd. from Dianguang Explosion-Proof Technology Co., Ltd. (SZSE:002730) for approximately CNY 110 million on May 17, 2020. On May 18, 2020, share transfer agreement was signed between parties. As of December 31, 2019, Shanghai Yali Information Technology reported total assets of CNY 125.3 million, total liabilities of CNY 66.1 million, net assets of CNY 59.1 million and in 2019, Shanghai Yali Information Technology reported revenue of CNY 100.3 million, operating profit of CNY 14.3 million and net profit of CNY 11.2 million. On May 17, 2020, the 8th session of the Dianguang Explosion's 4th directorate approved the transaction.
Excellent School International Education Investment Development Co., Ltd. completed the acquisition of 65% stake in Shanghai Yali Information Technology Co., Ltd. from Dianguang Explosion-Proof Technology Co., Ltd. (SZSE:002730) on October 10, 2020. Dianguang Explosion has received the full transfer payment from Excellent School International Education Investment Development Co., Ltd.
Dianguang Explosion-proof Technology Co., Ltd. is a China-based company principally engaged in the research, development, design, production and sale of mining explosion-proof electrical equipment, mine explosion-proof monitoring and control products, mining emergency rescue products and electrical equipment. The Company's main products include all-intelligent metering equipment, single and three-phase meter boxes, multi-meter boxes, low-voltage power distribution cabinets for power, high and low voltage cable distribution boxes, sheet molding compound (SMC) electrical equipment boxes and outdoor high voltage circuit breakers. The Company's products are mainly used in the areas of petrochemicals, factory explosion-proof, military explosion-proof, state grid, international power, communications technology, airport traffic, rail transport and national municipal large-scale projects. The Company also provides education training and study abroad services.
Excellent School International Education Investment Development Co., Ltd. completed the acquisition of 65% stake in Shanghai Yali Information Technology Co., Ltd. from Dianguang Explosion-Proof Technology Co., Ltd..