Hangzhou Chengshang Technology Co., Ltd cancelled the acquisition of Zhejiang Zheda Wangxin Electromechanical Engineering Co., Ltd from United Science and Technology Co., Ltd..
January 12, 2017
Share
Hangzhou Chengshang Technology Co., Ltd signed a contract to acquire Zhejiang Zheda Wangxin Electromechanical Engineering Co., Ltd from United Science and Technology Co., Ltd. (SZSE:000925) for approximately CNY 250 million on January 12, 2016. Zhejiang Zheda Wangxin Electromechanical Engineering Co., Ltd reported total assets of CNY 913.17 million, total liabilities of CNY 654.76 million and net assets of CNY 258.41 million as of September 30, 2015. Zhejiang Zheda Wangxin Electromechanical Engineering reported revenues of CNY 278.81 million, operating loss of CNY 19.03 million and net loss of CNY 19.4 million for the nine months ending September 30, 2015. The Board of United Science and Technology Co., Ltd approved the transaction. As on January 28, 2016, the shareholders of United Science and Technology Co approved the deal.
Hangzhou Chengshang Technology Co., Ltd cancelled the acquisition of Zhejiang Zheda Wangxin Electromechanical Engineering Co., Ltd from United Science and Technology Co., Ltd. (SZSE:000925) on January 12, 2017.
UniTTEC Co Ltd, formerly United Mechanical and Electrical Co Ltd, is a China-based company principally engaged in rail transit and energy saving and environmental protection businesses. Its rail transit business mainly includes rail traffic signaling system and automated fare collection system. Its energy saving and environmental protection business include flue gas desulfurization, wastewater treatment and semiconductor business. The Company operates its business within domestic market and to overseas markets.
Hangzhou Chengshang Technology Co., Ltd cancelled the acquisition of Zhejiang Zheda Wangxin Electromechanical Engineering Co., Ltd from United Science and Technology Co., Ltd..
UNITTEC CO.,LTD 
