Zhengzhou Airport Economic Zone Xinghui Electronic Technology Co., Ltd. cancelled the acquisition of Zhengzhou Airport Zone Xingpai Technology Co., Ltd. from Beijing Unistrong Science & Technology Co., Ltd..
December 09, 2021
Share
Zhengzhou Airport Economic Zone Xinghui Electronic Technology Co., Ltd. signed the equity transfer agreement to acquire Zhengzhou Airport Zone Xingpai Technology Co., Ltd. from Beijing Unistrong Science & Technology Co., Ltd. (SZSE:002383) for approximately CNY 900 million on December 14, 2020. As per terms of the consideration, 55% amount will be paid within 10 working days from the effective date of the agreement and the remaining 45% amount will be paid within 10 working days from the date of the equity change stipulated in article 4 of the agreement. As of November 30, 2020, Zhengzhou Airport Zone Xingpai Technology Co., Ltd. reported total assets of CNY 853.44 million and net assets of CNY 223.90 million. The transaction is subject to approval from the shareholders of Beijing Unistrong Science & Technology Co., Ltd. and the state-owned assets authority. The transaction is approved by the board of directors of Beijing Unistrong Science & Technology Co., Ltd
Zhengzhou Airport Economic Zone Xinghui Electronic Technology Co., Ltd. cancelled the acquisition of Zhengzhou Airport Zone Xingpai Technology Co., Ltd. from Beijing Unistrong Science & Technology Co., Ltd. (SZSE:002383) on December 10, 2021. Due to the Beijing UniStrong Science&Technology CO.,LTD 's own development needs, after friendly negotiation with Zhengzhou Airport Economic Zone Xinghui Electronic Technology Co., Ltd., both parties agreed to terminate this transaction.
Beijing UniStrong Science&Technology CO., LTD is a China-based company, principally engaged in the research and development, manufacture and distribution of satellite navigation products, as well as the provision of related services. The Company primarily provides geographic information system (GIS) data collection products and high precision measuring products, portable navigation products, system products, spatial data products, as well as location-based services. The Company distributes its products within domestic market and to overseas markets.