Invengo Information Technology Co., Ltd agreed to acquire remaining 80% stake in Shenzhen Intang Technology Co., Ltd. from Shenzhen E-Shine Digital Technology Co., Ltd. and Zhao Yanlian for CNY 600 million.
October 16, 2020
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Invengo Information Technology Co., Ltd (SZSE:002161) agreed to acquire remaining 80% stake in Shenzhen Intang Technology Co., Ltd. from Shenzhen E-Shine Digital Technology Co., Ltd. and Zhao Yanlian for CNY 600 million on October 17, 2020. As per the terms, Shenzhen E-Shine Digital Technology Co., Ltd. will sell 75.2% and Zhao Yanlian will sell 4.8% stake in Shenzhen Intang Technology Co., Ltd. Post acquisition Invengo Information Technology Co., Ltd will hold 100% stake in Shenzhen Intang Technology Co., Ltd. As of December 31, 2019, Shenzhen Intang Technology Co., Ltd. has total assets of CNY 175 million, net assets of CNY 32.1 million, revenues of CNY 17.1 million and net loss of CNY 9 million. As of June 30, 2020, Shenzhen Intang Technology Co., Ltd. has total assets of CNY 170.9 million and net assets of CNY 28.9 million. The transaction was approved in the 16th (extraordinary) meeting of Invengo Information Technology Co., Ltd’s 6th Directorate, and does not need the shareholders’ approval.
Invengo Information Technology Co., Ltd is a China-based company, principally engaged in the development of radio frequency identification (RFID) technology and system solutions, as well as manufacture and distribution of RFID products. The Company's main products include system integration schemes, RFID read and write devices, electronic labels, antennas, software, spare parts and others. The Company distributes its products within domestic market and to overseas markets.
Invengo Information Technology Co., Ltd agreed to acquire remaining 80% stake in Shenzhen Intang Technology Co., Ltd. from Shenzhen E-Shine Digital Technology Co., Ltd. and Zhao Yanlian for CNY 600 million.
INVENGO INFORMATION TECHNOLOGY CO.,LTD. 
