Nanjing Focheng Technology Industry Co., Ltd completed the acquisition of 19% stake in Nanjing Borong Electronics Co., Ltd from NanJing AoLian AE&EA Co., Ltd..
February 01, 2021
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Nanjing Focheng Technology Industry Co., Ltd signed a share transfer agreement to acquire 19% stake in Nanjing Borong Electronics Co., Ltd from NanJing AoLian AE&EA Co., Ltd. (SZSE:300585) for CNY 21.2 million on September 15, 2020. Under the terms of transaction, Nanjing Focheng Technology will pay CNY 8.5 million within 10 working days after the agreement signing and will pay CNY 8.5 million within 3 working days after the completion of the share transfer and will pay remaining CNY 4.2 million, ten days after completion of agreement. For the year ended December 31, 2019, Nanjing Borong Electronics had total assets, net assets, revenue, operating profit and net profit as CNY 12 million, CNY 13.9 million, CNY 0 million, CNY 0.14 and CNY 0.14 million respectively. Transaction has been approved in the 12th meeting of the NanJing AoLian held on September 15, 2020, and does not need the shareholders’ approval.
Nanjing Focheng Technology Industry Co., Ltd completed the acquisition of 19% stake in Nanjing Borong Electronics Co., Ltd from NanJing AoLian AE&EA Co., Ltd. (SZSE:300585) on February 1, 2021.
NanJing AoLian AE&EA Co Ltd is a company engaged in research, development, production and sales of automotive electronics and electrical components. The Company's main products include electronic accelerator pedal assemblies, gear shift controllers, vehicle air-conditioning controllers, low-temperature starting devices and electronic throttles. The Company also provides in-vehicle electronic appliances, including vehicle information systems, navigation systems and car stereos, such as car audio.
Nanjing Focheng Technology Industry Co., Ltd completed the acquisition of 19% stake in Nanjing Borong Electronics Co., Ltd from NanJing AoLian AE&EA Co., Ltd..