Changzhou Tronly New Electronic Materials Co., Ltd. agreed to acquire remaining 65.51% stake in NewSun Polymer Technology Co., Ltd. from Hunan Yuhao New Energy Partnership Enterprise (Limited Partnership), Changsha Xinhui New Material Technology Consulting Partnership Enterprise (Limited Partnership), Wang Huiming, Sun Qin, Wang Siwei, GANG SUN, JIANHUA SHU, JEFF SUN and Li Xinguo for approximately CNY 160 million.
November 15, 2021
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Changzhou Tronly New Electronic Materials Co., Ltd. (SZSE:300429) agreed to acquire remaining 65.51% stake in NewSun Polymer Technology Co., Ltd. from Hunan Yuhao New Energy Partnership Enterprise (Limited Partnership), Changsha Xinhui New Material Technology Consulting Partnership Enterprise (Limited Partnership), Wang Huiming, Sun Qin, Wang Siwei, GANG SUN, JIANHUA SHU, JEFF SUN and Li Xinguo for approximately CNY 160 million on November 16, 2021. Payment of CNY 77.7 million which consists of 50% of the price will be paid by buyer on the day of delivery; On the day of completing one year after the Changzhou Tronly pays the transfer price, the Changzhou Tronly shall pay 30% of the transfer price, which is CNY 46,616,707.80; On the day of completing 2 years after the Changzhou Tronly pays the transfer price, the Changzhou Tronly shall pay 20% of the transfer price, which is CNY 31,077,805.20. The transaction will be funded from own funds of Changzhou Tronly New Electronic. NewSun Polymer Technology reported total assets as approximately CNY 260 million and net assets as approximately CNY 230 million for the period end on September 30, 2021. NewSun Polymer Technology reported revenue as CNY 65.1 million, operating profit as CNY -15.8 million and note profit as CNY -15.7 million for the period end on December 31, 2020. The transaction has been approved by the board of directors of Changzhou Tronly New Electronic Materials.
CHANGZHOU TRONLY NEW ELECTRONIC MATERIALS CO., LTD. is a China-base company principally engaged in development, research, manufacture and sales of the photoresist dedicated chemical materials. The Company's products consist of photoinitiators including photosensitizers and photo Acid Generators, and photoresist resins. The Company's products are mainly applied to the electronic materials, such as photoresist dedicated chemical materials for printed circuit board (PCB), photoinitiators for liquid crystal display (LCD), photoinitiators for semiconductor and other photoinitiators for special materials.
Changzhou Tronly New Electronic Materials Co., Ltd. agreed to acquire remaining 65.51% stake in NewSun Polymer Technology Co., Ltd. from Hunan Yuhao New Energy Partnership Enterprise (Limited Partnership), Changsha Xinhui New Material Technology Consulting Partnership Enterprise (Limited Partnership), Wang Huiming, Sun Qin, Wang Siwei, GANG SUN, JIANHUA SHU, JEFF SUN and Li Xinguo for approximately CNY 160 million.