Yu Siwei completed the acquisition of 75% stake in Shanghai Bokai Industrial Belt Co., Ltd. from Sichuan Dawn Precision Technology Co.,Ltd..
January 06, 2021
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Yu Siwei entered into a letter of intent to acquire 75% stake in Shanghai Bokai Industrial Belt Co., Ltd. from Sichuan Dawn Precision Technology Co.,Ltd. (SZSE:300780) for CNY 1.15 million on December 7, 2020. Song Ming, wife of Yu Siwei holds 25% stake in Shanghai Bokai Industrial Belt Co., Ltd. The consideration of CNY 0.35 million will be paid before December 30, 2020, CNY 0.4 million before June 30, 2021, and CNY 0.4 million before December 30, 2021. Both parties agree that Song Ming will pay the equity transfer fee of CNY 1.15 million by bank transfer to Sichuan Dawn Precision Technology Co.,Ltd. As of December 31, 2019, Shanghai Bokai Industrial Belt Co., Ltd. reported total assets of CNY 1.19 million, negative net assets of CNY 0.41 million, operating income of CNY 1.82 million and net loss of CNY 1.79 million. The thirteenth meeting of the third board of directors and the tenth meeting of the third board of supervisors was reviewed and approved by independent directors of Sichuan Dawn Precision Technology Co.,Ltd. The transaction does not require to be submitted to the shareholders meeting for deliberation.
Yu Siwei completed the acquisition of 75% stake in Shanghai Bokai Industrial Belt Co., Ltd. from Sichuan Dawn Precision Technology Co.,Ltd. (SZSE:300780) on January 6, 2021. Sichuan Dawn Precision Technology Co.,Ltd. has received a total of CNY 0.7 million for the first two equity transfers and the remaining third equity transfer of CNY 0.4 million will be paid before December 30, 3021.
Sichuan Dawn Precision Technology Co., Ltd. is a China-based company mainly involved in research, development, design, manufacture and sales of mechanical transmission parts and related products. The Company's main products include mechanical transmission parts such as belt pulleys, taper sleeves, synchronous pulleys, expansion sleeves, sprockets, reducers, couplings and gears. Besides, the Company also provides customized mechanical parts meeting customer needs. The Company distributes its products in domestic and to overseas markets.