Focused Photonics, Inc. completed the acquisition of 90% stake in Shenzhen Dongshen Electronics Technology Co., Ltd. from Guo Hua, Wang Jialiang, Du Ruiying, Lin Zhandong, Sun Aibing, Liu Jiangxiao, Zhang Yihong, Huang Mianhua, Xu Wenyuan, Zhang Huajun, Ou Jincheng, Xu Jihua, Chen Jinniu, Lin Fan, Zhang Chuanling, Tan Jie, Liu Zhengkun and Wu Aiping.
January 17, 2014 at 04:00 am
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Focused Photonics (Hangzhou), Inc. (SZSE:300203) agreed to acquire 90% stake in Shenzhen Dongshen Electronics Technology Co., Ltd. from Guo Hua, Wang Jialiang, Du Ruiying, Lin Zhandong, Sun Aibing, Liu Jiangxiao, Zhang Yihong, Huang Mianhua, Xu Wenyuan, Zhang Huajun, Ou Jincheng, Xu Jihua, Chen Jinniu, Lin Fan, Zhang Chuanling, Tan Jie, Liu Zhengkun and Wu Aiping for approximately CNY 230 million on December 25, 2013. The intended source of funding of this transaction shall be Focused Photonics (Hangzhou), Inc.'s own funds. Within 20 working days from the date both parties sign the agreement, Focused Photonics (Hangzhou), Inc. shall pay CNY 30 million in a single payment. After both parties completely fulfill the contract, Focused Photonics (Hangzhou), Inc. shall pay CNY 42 million in a single payment within 15 working days from the delivery date. Within 15 working days after Shenzhen Dongshen Electronics Technology Co., Ltd.'s 2013 audit report is released, Focused Photonics (Hangzhou), Inc. shall pay the 2nd installment of the transfer payment, but the total transfer payment of the first and second installment shall not exceed CNY 90 million, Within 15 working days after Shenzhen Dongshen Electronics Technology Co., Ltd.'s 2014 audit report is released, Focused Photonics (Hangzhou), Inc. shall pay the 3rd installment of the transfer payment, but the total transfer payment of the first, second and third installment shall not exceed CNY 108 million, Within 15 working days after Shenzhen Dongshen Electronics Technology Co., Ltd.'s 2015 audit report is released, Focused Photonics (Hangzhou), Inc. shall pay the 4th installment of the transfer payment, paying for the remaining balance of the transfer payment, but the total transfer payment of the first, second, third and fourth installment shall not exceed CNY 226 million.
For the period ending December 2012, Shenzhen Dongshen Electronics Technology Co., Ltd. reported total assets of CNY 157.67 million, net assets of CNY 59.37 million, total liabilities of CNY 98.3 million, sales of CNY 91.65 million and net profit of CNY 15.03 million. The transaction has been approved by Board of Directors of Focused Photonics (Hangzhou), Inc. As on January 16, 2014, Focused Photonics has already received notification that Shenzhen Dongshen Electronics Technology Co.,Ltd. has already obtained the modification (filing) notice issued by the Market Supervision Administration Bureau of Shenzhen Municipality.
Focused Photonics (Hangzhou), Inc. (SZSE:300203) completed the acquisition of 90% stake in Shenzhen Dongshen Electronics Technology Co., Ltd. from Guo Hua, Wang Jialiang, Du Ruiying, Lin Zhandong, Sun Aibing, Liu Jiangxiao, Zhang Yihong, Huang Mianhua, Xu Wenyuan, Zhang Huajun, Ou Jincheng, Xu Jihua, Chen Jinniu, Lin Fan, Zhang Chuanling, Tan Jie, Liu Zhengkun and Wu Aiping on January 17, 2014.
Focused Photonics Hangzhou Inc is a China-based company principally engaged in the research, development, manufacture and sales of instruments. The company operates through four segments. Instruments, Related Software and Consumables segment is mainly engaged in the research, development and production of environmental monitoring instruments and related systems. Operation Services, Testing Services and Consulting Services segment mainly provides environmental monitoring systems and operation services. Environmental Equipment and Engineering segment mainly provides sewage treatment consulting and design, engineering construction and operation management services. Others business segment is engaged in environment-related services.
Focused Photonics, Inc. completed the acquisition of 90% stake in Shenzhen Dongshen Electronics Technology Co., Ltd. from Guo Hua, Wang Jialiang, Du Ruiying, Lin Zhandong, Sun Aibing, Liu Jiangxiao, Zhang Yihong, Huang Mianhua, Xu Wenyuan, Zhang Huajun, Ou Jincheng, Xu Jihua, Chen Jinniu, Lin Fan, Zhang Chuanling, Tan Jie, Liu Zhengkun and Wu Aiping.
FOCUSED PHOTONICS (HANGZHOU), INC. 
