Xi'an Haitian Antenna Technologies Co., Ltd. completed the acquisition of remaining 91.43% stake in Suzhou Haitian New Antenna Technologies Co., Ltd. from Xi'an Xiao's Antenna Technologies Co., Ltd. and Liao Kang.
December 20, 2019
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Xi'an Haitiantian Holdings Co., Ltd. (SEHK:8227) agreed to acquire remaining 91.43% stake in Suzhou Haitian New Antenna Technologies Co., Ltd. from Xi'an Xiao's Antenna Technologies Co., Ltd. and Liao Kang for CNY 35 million on August 2, 2019. Under the terms of transaction, Xi'an Haitiantian Holdings Co., Ltd. will acquire 86.43% stake from Xi'an Xiao's Antenna Technologies Co., Ltd. and 5% stake from Liao Kang. The consideration of CNY 35 million will be paid by the issue of approximately 160 million shares to Xi'an Xiao's Antenna Technologies Co., Ltd and 10 million share to Liao Kang. For the year ended December 31, 2018, the net income of Suzhou Haitian New Antenna Technologies Co., Ltd is CNY 1.95 million. The condition of the transaction is not satisfied on of before December 31, 2019, the agreement will be terminated. The transaction is subject to approval from the independent shareholders of Xi'an Haitiantian Holdings Co., Ltd. As of October 24, 2019, Board of Suzhou Haitian New Antenna Technologies recommended the transaction. The transaction will be completed within the 10 business days after the satisfaction of all the condition. Lego Corporate Finance Limited acted as financial advisor and Confucius International CPA Limited acted as accountant for Suzhou Haitian New Antenna Technologies.
Xi'an Haitian Antenna Technologies Co., Ltd. (SEHK:8227) completed the acquisition of remaining 91.43% stake in Suzhou Haitian New Antenna Technologies Co., Ltd. from Xi'an Xiao's Antenna Technologies Co., Ltd. and Liao Kang on December 20, 2020.
XiAn Haitian Antenna Technologies Co Ltd is a China-based company mainly engaged in the research and development, manufacturing and sales of mobile communication antennas and related products. The Company operates primarily through four segments. The Sales of Antenna Products and Provision of Related Services segment is mainly engaged in the production and sales of mobile communication products. The Sales of Underwater Monitoring Products and Related Products segment is mainly engaged in the production and sales of underwater and underground surveillance, imaging, mechanical equipment, as well as complicated environment warning and surveillance equipment. The Sales of Aircraft Products segment is mainly engaged in the production and sales of agricultural and forestry used unmanned aerial vehicles. The Sales of Agricultural Products segment is mainly engaged in the sales of live chickens, chicken meat and related non-staple foods.
XI'AN HAITIAN ANTENNA TECHNOLOGIES CO., LTD. 
