Jinan High-tech Urban Construction Development Co., Ltd. intends to acquire 95% stake in Jinan High-tech Zone Tianye Microfinance Co., Ltd from Jinan High-tech Development Co., Ltd. for approximately CNY 210 million.
April 10, 2021
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Jinan High-tech Urban Construction Development Co., Ltd. intends to acquire 95% stake in Jinan High-tech Zone Tianye Microfinance Co., Ltd from Jinan High-tech Development Co., Ltd. (SHSE:600807) for approximately CNY 210 million on April 9, 2021. Under the terms, the transfer price will be paid in two installments, first of CNY 190.97 million within 30 days from effective date of this agreement and second installment of CNY 27.1 million within 7 days of after completion of industrial and commercial registration. The balance sheet items of Jinan High-tech Zone Tianye Microfinance as of November 30, 2020, are total assets of CNY 220.2 million and net assets of CNY 218.6 million. The transaction is approved by the board of Directors of Jinan High-tech Development. As on April 19, 2021, The transaction has been approved by the Second Extraordinary General Meeting of Shareholders of Jinan High-tech Development Co., Ltd.
Jinan High-tech Development Co Ltd is a China-based company principally engaged in the in vitro diagnostics business. The Company operates three segments. The Real Estate and Property Services Business segment is mainly engaged in real estate development and sales and the provision of property and property leasing services. The In Vitro Diagnostics Business segment is mainly engaged in the research and development, production and sales of molecular diagnostic reagents and equipment. The products are mainly used in the fields of infectious disease prevention and control, pathogenic microorganism detection, food safety testing and other fields. The Other Business segment is mainly engaged in trading business and other businesses. The Company mainly conducts its businesses in the domestic market.
Jinan High-tech Urban Construction Development Co., Ltd. intends to acquire 95% stake in Jinan High-tech Zone Tianye Microfinance Co., Ltd from Jinan High-tech Development Co., Ltd. for approximately CNY 210 million.