Guangdong Zhengye Technology Co., Ltd. completed the acquisition of the remaining 51% stake in Shenzhen Pre Vail Technology CO.,LTD. from Xinyu Yuheng Investment Partnership (Limited Partnership) and Liu Xingwei.
January 20, 2017
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Guangdong Zhengye Technology Co., Ltd. (SZSE:300410) agreed to acquire the remaining 51% stake in Shenzhen Pre Vail Technology CO.,LTD. from Xinyu Yuheng Investment Partnership (Limited Partnership) and Liu Xingwei for approximately CNY 120 million on May 12, 2016. Guangdong Zhengye Technology Co. signed an agreement to acquire the remaining 51% stake in Shenzhen Pre Vail Technology on May 17, 2016. Guangdong Zhengye Technology Co. will pay Liu Xingwei CNY 50.4 million in stock through the issuance of 1.2 million shares for 21% stake and will pay Xinyu Yuheng Investment Partnership CNY 72 million in stock through the issuance of 1.74 million shares for its 30% stake. In a related transaction, Guangdong Zhengye Technology Co., Ltd. agreed to acquire Shenzhen Xuanshuo Optoelectronics Technology Co., Ltd. from a group of sellers for approximately CNY 450 million on May 12, 2016. After the completion of this transaction, Guangdong Zhengye Technology Co., Ltd. will hold 100% stake in Shenzhen Pre Vail Technology.
Shenzhen Pre Vail Technology CO. had total assets of CNY 85.15 million, shareholders' equity of CNY 35.54 million, operating revenue of CNY 105.37 million, EBIT of CNY 29.24 million and net profit of CNY 26.23 million for the year ending December 31, 2015. The transaction is subject to shareholder approval of Guangdong Zhengye Technology Co. and CSRC. The shareholders of Shenzhen Pre Vail Technology CO. approved the transaction on May 12, 2016. On May 17, 2016, the Guangdong Zhengye TeACchnology Co., held the 8th session of the 3rd Directorate and approved the transaction. On June 16, 2016, the transaction was approved by the shareholders of Guangdong Zhengye Technology Co., Ltd. On August 24, 2016, Board of Directors of Guangdong Zhengye Technology Co., Ltd. approved the amendments to the transaction. On January 10, 2017, China Securities Regulatory Commission approved the deal.
GF Securities Co., Ltd. acted as financial advisor, Shu Jin Law Firm acted as legal advisor and Ruihua Certified Public Accountants, LLP acted as the accountant for Guangdong Zhengye Technology.
Guangdong Zhengye Technology Co., Ltd. (SZSE:300410) completed the acquisition of the remaining 51% stake in Shenzhen Pre Vail Technology CO.,LTD. from Xinyu Yuheng Investment Partnership (Limited Partnership) and Liu Xingwei on January 20, 2017.
Guangdong Zhengye Technology Co.,Ltd. is a China-based company principally engaged in the of research, development, manufacture and sale of printed circuit board (PCB) precision machining and testing equipment, PCB precision machining auxiliary materials, laser equipment, X-ray automated testing equipment and liquid crystal module automated production equipment. The Company's main products include machine vision and laboratory equipment series, prepreg dust-free automatic cutting machines, hole checking machines, fully automatic reinforcing machines, character printers, film series and filtration series, reinforcing materials, clean series and precision positioning series materials, ultraviolet (UV) laser drilling machines, UV laser cutting machines, precision fiber laser cutting machines, high speed carbon dioxide laser cutting machines, PCB automatic laser engraving machines, laser marking machines, semi-automatic X-ray inspecting machines and automatic X-ray inspecting machines.
Guangdong Zhengye Technology Co., Ltd. completed the acquisition of the remaining 51% stake in Shenzhen Pre Vail Technology CO.,LTD. from Xinyu Yuheng Investment Partnership (Limited Partnership) and Liu Xingwei.
GUANGDONG ZHENGYE TECHNOLOGY CO.,LTD. 
