HAXC Holdings Co., Ltd. agreed to acquire remaining 18.5% stake in Future Automotive Technology Co., Ltd. from Ma Lei, Zhang Yuanguo, Li Zhiwei, You Xiaoxu and Hou Qijia for CNY 12.8 million.
August 19, 2021
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HAXC Holdings (Beijing) Co., Ltd. (SZSE:300928) agreed to acquire remaining 18.5% stake in Future Automotive Technology (Shenzhen) Co., Ltd. from Ma Lei, Zhang Yuanguo, Li Zhiwei, You Xiaoxu and Hou Qijia for CNY 12.8 million on August 19, 2021. As per the transaction, Ma Lei, Zhang Yuanguo, Li Zhiwei, You Xiaoxu and Hou Qijia will sell 10%, 4%, 2%, 1.5% and 1% stake respectively. HAXC Holdings (Beijing) Co., Ltd. shall pay 50% of consideration within 30 days from the effective date of agreement while remaining 50% payable within 30 days after completion. Post completion, HAXC Holdings (Beijing) Co., Ltd. shall hold 100% stake in Future Automotive Technology (Shenzhen) Co., Ltd.
As of June 30, 2021, Future Automotive Technology (Shenzhen) Co., Ltd. has reported total assets of CNY 91.59 million and net assets of CNY 55.08 million. The Board of Directors of HAXC Holdings (Beijing) Co., Ltd. has approved the transaction and its shareholder’s approval is not required.
HAXC Holdings (Beijing) Co Ltd is a China-based company mainly engaged in the customization and selection of core display devices of cockpit electronic products, the development of software and hardware systems, and the sales of general devices. Its customized devices mainly include liquid crystal displays and touch screens. Its core display devices are mainly applied in cockpit electronic products such as automotive central control and liquid crystal instrumentation. Full liquid crystal display (LCD) instrument software mainly includes system layer, middle layer and application layer software. The hardware systems mainly include full LCD instrument main control board hardware systems, full LCD instrument body interfaces and full LCD instrument display modules. Its general-purpose devices include general-purpose car LCD screens, car inertial navigation modules, car cameras, image sensors, light-emitting diode (LED) lights and other general-purpose devices.
HAXC Holdings Co., Ltd. agreed to acquire remaining 18.5% stake in Future Automotive Technology Co., Ltd. from Ma Lei, Zhang Yuanguo, Li Zhiwei, You Xiaoxu and Hou Qijia for CNY 12.8 million.
HAXC HOLDINGS (BEIJING) CO., LTD. 
