Quan Jinsong and a Shenzhen investment limited partnership cancelled the acquisition of 20% stake in energy saving lighting unit in Shenzhen from Shenzhen MTC Co., Ltd..
January 21, 2017
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Quan Jinsong and a Shenzhen investment limited partnership agreed to acquire 20% stake in energy saving lighting unit in Shenzhen from Shenzhen MTC Co., Ltd. (SZSE:002429) for CNY 40 million on January 22, 2016. Shenzhen MTC's directorate meeting approved the deal. Quan Jinsong will acquire 1% stake in energy saving lighting unit for CNY 2 million and Shenzhen investment limited partnership will acquire 19% stake in energy saving lighting unit for CNY 38 million. Pursuant to the transaction completion, Shenzhen MTC will hold 80% stake in energy saving lighting unit in Shenzhen. Energy saving lighting unit reported total assets of CNY 806.5 million, shareholders equity of CNY 199.3 million, revenue of CNY 900.1 million and net profit of CNY 48.9 million in 2015.
Quan Jinsong and a Shenzhen investment limited partnership cancelled the acquisition of 20% stake in energy saving lighting unit in Shenzhen from Shenzhen MTC Co., Ltd. (SZSE:002429) on January 22, 2017.
Shenzhen MTC Co., Ltd. is a China-based company, principally engaged in the research and development, design, manufacture and distribution of household video and audio consumer electronics. The Company primarily provides household video and audio consumer electronics, including liquid crystal display (LCD) televisions, digital set top boxes, blue laser video disk players, multimedia sound boxes and light emitting diode (LED) products and accessories. The Company also offers Internet terminals and services, and original design manufacturer (ODM) services. The Company distributes its products in domestic and overseas markets.
Quan Jinsong and a Shenzhen investment limited partnership cancelled the acquisition of 20% stake in energy saving lighting unit in Shenzhen from Shenzhen MTC Co., Ltd..
SHENZHEN MTC CO., LTD. 
