Joyware Electronics Co.,Ltd entered into an agreement to acquire 73.92% stake in China TX Robot Co., Ltd. from China TX IIOT Corporation Limited for CNY 17.8 million.
September 08, 2021
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Joyware Electronics Co.,Ltd (SZSE:300270) entered into an agreement to acquire 73.92% stake in China TX (Beijing) Robot Co., Ltd. from China TX IIOT Corporation Limited for CNY 17.8 million on September 8, 2021. The consideration details will be as follows (i) within 10 working days from the effective date of the agreement, an initial equity transfer payment of CNY 6.8 million shall be paid; (ii) within 10 working days from the completion of the industrial and commercial change registration procedures stipulated in this agreement, CNY 10 million shall be paid; and (iii) within 10 working days from the date of completion of the industrial and commercial change registration procedures agreed in this agreement and the completion of the transfer of intangible assets described in this agreement, the remaining equity payment of CNY 1 million shall be paid. As of June 2021, China TX (Beijing) had a total assets of CNY 12.4 million; total liabilities of CNY 4.69 million; Net assets of CNY 7.67 million; revenue of CNY 0.3 million; operating profit of CNY -3.05 million; and net loss of CNY -1.93 million.
Joyware Electronics Co., Ltd., formerly OB Telecom Electronics Co., Ltd., is principally engaged in the research, development, manufacture and distribution of security protection video monitoring transmission technology products. The Company primarily provides digital video optical transmitters, video any route (VAR) exchanging platforms, front-end equipment and back-end products, which are used in security protection, transportation and other industries. The Company distributes its products in domestic market.
Joyware Electronics Co.,Ltd entered into an agreement to acquire 73.92% stake in China TX Robot Co., Ltd. from China TX IIOT Corporation Limited for CNY 17.8 million.