Chengdu Guibao Science & Technology Co.,Ltd. agreed to acquire the remaining 17% stake in Chengdu Silicon Automation Equipment Co., Ltd. from the group of sellers.
May 22, 2020
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Chengdu Guibao Science & Technology Co.,Ltd. (SZSE:300019) agreed to acquire the remaining 17% stake in Chengdu Silicon Automation Equipment Co., Ltd. from the group of sellers on May 22, 2020. The consideration will be paid from Chengdu Guibao Science & Technology's internal funds of CNY 0.95 million. Post-completion, Chengdu Guibao Science & Technology Co.,Ltd. will hold 100% stake in Chengdu Silicon Automation Equipment Co., Ltd. For the year ended December 31, 2019, Chengdu Silicon Automation Equipment Co., Ltd. reported total assets of CNY 15.37 million, net assets of CNY 6.92 million, revenues of CNY 16.31 million, operating profit of CNY 0.29 million and net profit of CNY 0.28 million. The transaction is subject to approval from the board of directors of Chengdu Guibao Science & Technology.
Chengdu Guibao Science & Technology Co Ltd is a China-based company mainly engaged in the research and development (R&D), production and sales of new materials such as silicone sealant. The Company's products include silicone sealant and silane coupling agent. The silicone sealant products include construction adhesives and industrial adhesives. The construction adhesives are mainly used in building curtain walls, insulating glass, energy-saving doors and windows, prefabricated buildings, interior decoration, airport roads and bridges and other fields. The industrial adhesives are mainly used in electronic and electrical appliances, photovoltaic, electric power, automobile and other fields. The silane coupling agent is mainly used in sealant, artificial quartz, glass fiber, coating ink, metal surface treatment agent and other fields.
Chengdu Guibao Science & Technology Co.,Ltd. agreed to acquire the remaining 17% stake in Chengdu Silicon Automation Equipment Co., Ltd. from the group of sellers.
CHENGDU GUIBAO SCIENCE & TECHNOLOGY CO.,LTD. 
