Yao Caihong agreed to acquire 10% stake in Shenzhen Collaborative Innovation High-Tech Development Co., Ltd. from Shenzhen WOTE Advanced Materials Co.,Ltd for CNY 6 million.
June 08, 2024
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Yao Caihong agreed to acquire 10% stake in Shenzhen Collaborative Innovation High-Tech Development Co., Ltd. from Shenzhen WOTE Advanced Materials Co.,Ltd (SZSE:002886) for CNY 6 million on June 7, 2024. A cash consideration of CNY 3.6 million will be paid by the buyer. The buyer will pay an earnout/contingent payment of CNY 2.4 million cash. As part of consideration, CNY 6 million is paid towards common equity of Shenzhen Collaborative Innovation High-Tech Development Co., Ltd.
As of March 31, 2024, Shenzhen Collaborative Innovation High-Tech Development Co., Ltd. reported total assets of CNY 55.12 million and total common equity of CNY 15.85 million.
The deal has been approved by the board of directors of Shenzhen WOTE Advanced Materials Co.,Ltd.
Shenzhen WOTE Advanced Materials Co Ltd is a China-based company mainly engaged in the research and development, production and sales of modified engineering plastics, modified general-purpose plastics and polymer materials. The Company also provides related technical consulting services and material solutions. The Company's main products include modified general-purpose plastics, engineering plastics and special engineering plastics. Its products are mainly applied in electronics, home appliances, office equipment, communications, automobile, water treatment, aviation and military industries. The Company mainly distributes its products within domestic market and to overseas markets.
Yao Caihong agreed to acquire 10% stake in Shenzhen Collaborative Innovation High-Tech Development Co., Ltd. from Shenzhen WOTE Advanced Materials Co.,Ltd for CNY 6 million.
SHENZHEN WOTE ADVANCED MATERIALS CO.,LTD 
