J.Pond Precision Technology Co., Ltd. completed the acquisition of 55% stake in Wengu Viet Nam High Technology Company Limited and Wengu Industrial Co., Ltd. from Wengu Sealing System (HK) Limited, and Zhou Lei.
May 10, 2024
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J.Pond Precision Technology Co., Ltd. (SZSE:301326) agreed to acquire 55% stake in Wengu Viet Nam High Technology Company Limited and Wengu Industrial (Shanghai) Co., Ltd. from Wengu Sealing System (HK) Limited, and Zhou Lei for CNY 70 million on January 16, 2024. The consideration consists of CNY 70 million in cash. The agreement outlines a three-stage payment plan. The first tranche of CNY 10 million is due in 15 days, the second tranche of CNY 85 million is conditional on specific requirements, and the third tranche of CNY 5 million is linked to acquiring equity in a Wengu Viet Nam High Technology Company Limited.
J.Pond Precision Technology Co., Ltd. (SZSE:301326) completed the acquisition of 55% stake in Wengu Viet Nam High Technology Company Limited and Wengu Industrial (Shanghai) Co., Ltd. from Wengu Sealing System (HK) Limited, and Zhou Lei on May 10, 2024.
J.Pond Precision Technology Co Ltd is a China-based company principally engaged in the manufacturing of customized precision functional parts and structural parts for consumption electronics. The Company's main products include traditional precision functional parts, flexible precision functional parts and metal precision functional parts. The Company's products are mainly used in the fields such as tablet computer, laptop computer, computer sets, smart home, three-dimension (3D) printing, drone and other consumer electronics. The Company also develops carbon nanotube, which is mainly used in lithium batteries. The Company principally distributes its products in domestic and overseas markets.
J.Pond Precision Technology Co., Ltd. completed the acquisition of 55% stake in Wengu Viet Nam High Technology Company Limited and Wengu Industrial Co., Ltd. from Wengu Sealing System (HK) Limited, and Zhou Lei.