Ling Yun Industrial Corporation Limited (SHSE:600480) agreed to acquire additional 50% stake in Beijing Saedong Lingyun Technology Co., Ltd. from Saedong Co.,Ltd. (KOSDAQ:A053060) for CNY 23.8 million on May 17, 2024. The consideration consists of CNY 23.80 million in cash. As part of the consideration, CNY 23.80 million was paid towards common equity.

Transaction was financed by it's own funds. Beijing Saedong Lingyun Technology reported Total assets worth CNY 226.31 million and Total Common equity of CNY 150.75 million as at march 31, 2024. Ling Yun Industrial Corporation Limited's Board of director's approved the transaction.

Transaction is expected to complete on June 28, 2024.