Yunnan Lincang Xinyuan Germanium Industry Co.,LTD agreed to acquire an additional 10.87% stake in Yunnan Xinyao Semiconductor Materials Co., Ltd. from Quan Yigao for CNY 13.64 million.
April 23, 2021
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Yunnan Lincang Xinyuan Germanium Industry Co.,LTD (SZSE:002428) agreed to acquire an additional 10.87% stake in Yunnan Xinyao Semiconductor Materials Co., Ltd. from Quan Yigao for CNY 13.64 million on April 21, 2021. As reported, the cash consideration will be paid in full in one lump sum within three working days after the entry into force of the equity transfer agreement and the completion of the industrial and commercial change registration. Following the transaction, Yunnan Lincang Xinyuan Germanium Industry Co. will increase its stake from 53.26% to 64.13% while Quan Yigao will hold no stake in Yunnan Xinyao Semiconductor Materials Co. Yunnan Lincang Xinyuan Germanium Industry Co will use self-owned funds of CNY 13.64 million to acquire the stake. For the year ended December 31, 2020, Yunnan Xinyao Semiconductor Materials Co. reported total assets of CNY 318.2 million, net assets of CNY 119.3 million, operating revenue of CNY 63.9 million and net profit of CNY 10.3 million. The transaction was approved at the 13th meeting of the 7th Board of Directors of Yunnan Lincang Xinyuan Germanium Industry Co.,LTD.
Yunnan Lincang Xinyuan Germanium Industry Co., LTD is a China-based company, principally engaged in the mining, fire enrichment, wet purification, district melting refining, intensive processing and research and development of germanium. The Company's main products include germanium materials, infrared germanium products, photovoltaic grade germanium products and fiber grade germanium products. The Company distributes its products within domestic market and to overseas markets.
Yunnan Lincang Xinyuan Germanium Industry Co.,LTD agreed to acquire an additional 10.87% stake in Yunnan Xinyao Semiconductor Materials Co., Ltd. from Quan Yigao for CNY 13.64 million.