Shanghai Yihong Investment Management Co., Ltd cancelled the acquisition of 51% stake in Shanghai Lianxuan Electronic Technology Co., Ltd from Jianxi Lianchuang Opto-Electronic Science & Technology Co., Ltd.
March 25, 2019
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Shanghai Yihong Investment Management Co., Ltd agreed to acquire 51% stake in Shanghai Lianxuan Electronic Technology Co., Ltd from Jianxi Lianchuang Opto-Electronic Science & Technology Co., Ltd (SHSE:600363) for CNY 51 million on February 26, 2019. Shanghai Lianxuan Electronic Technology reported total assets of CNY 51.4 million and net assets of CNY 51.4 million as of September 30, 2018. The transaction was approved by the Board of Directors of Jianxi Lianchuang Opto-Electronic Science & Technology at the meeting of the directorate held on February 26, 2019.
Shanghai Yihong Investment Management Co., Ltd cancelled the acquisition of 51% stake in Shanghai Lianxuan Electronic Technology Co., Ltd from Jianxi Lianchuang Opto-Electronic Science & Technology Co., Ltd (SHSE:600363) on March 25, 2019. The transaction was terminated in view of the inability of the parties to agree on the main terms of the management model of Shanghai Lianxuan Electronic Technology after the equity transfer. The agreement related to the transaction was not yet signed, and the parties need not pay the default compensation.
Jiangxi Lian Chuang Optoelectronic Science and Technology Co Ltd is a China-based company principally engaged in the research and development, production and distribution of optoelectronic devices and application products and wire & cable products. Its optoelectronic devices and application products include light emitting diode (LED) chips, LED display and lighting devices and components, back lights and components, intelligent controllers and modules, applied in mobiles and tablets. Its wire & cable products include coaxial-cables and fiber-optic cables. The Company also offers computers and software products. The Company distributes its products within domestic market and to overseas markets.