Jade Bird Fire Co., Ltd. agreed to acquire 57% stake in Guangdong Heji Technology Co., Ltd. from Tianjin Youfu Enterprise Management Partnership (Limited Partnership for approximately CNY 260 million.
August 05, 2021
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Jade Bird Fire Co., Ltd. (SZSE:002960) agreed to acquire 57% stake in Guangdong Heji Technology Co., Ltd. from Tianjin Youfu Enterprise Management Partnership (Limited Partnership) for approximately CNY 260 million on August 4, 2021. Jade Bird Fire Co., Ltd. shall pay first phase of consideration CN Y 52.67 million within 10 working days from the date of agreement, CNY 79.002 million within 10 working days from completion, CNY 79.002 million payable before December 31, 2021 and remaining CNY 52.67 million within 10 working days from the day when agreement takes effect one year. Post completion, Tianjin Youfu Enterprise Management Partnership (Limited Partnership) will hold 42.99% stake of Guangdong Heji Technology Co., Ltd. The transaction will be funded through own funds. As of May 31, 2021, Guangdong Heji Technology Co., Ltd. has reported total assets of CNY 165.29 million and net assets of CNY 19.62 million. The Board of Directors of Jade Bird Fire Co., Ltd. has approved the transaction.
Jade Bird Fire Co., Ltd., formerly Beida Jade Bird Universal Fire Alarm Device Co., Ltd., is a China-based company principally engaged in the research, development, production and sales of fire safety system products. The Company's products mainly include four types of fire safety system products, such as fire automatic alarm and linkage control system, electrical fire monitoring system, automatic gas fire extinguishing system and gas detection and monitoring system, as well as other fire safety system products, such as fire door monitoring system, fire equipment power monitoring system. The Company mainly operates its business in the domestic market.
Jade Bird Fire Co., Ltd. agreed to acquire 57% stake in Guangdong Heji Technology Co., Ltd. from Tianjin Youfu Enterprise Management Partnership (Limited Partnership for approximately CNY 260 million.