Karamay Xiangrui Equity Investment General Partnership agreed to acquire additional 10% stake in Karamay Sanda New Technology Co., Ltd from Beijing Etrol Technologies Co., Ltd. for CNY 10.6 million.
August 26, 2020
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Karamay Xiangrui Equity Investment General Partnership agreed to acquire additional 10% stake in Karamay Sanda New Technology Co., Ltd from Beijing Etrol Technologies Co., Ltd. (SZSE:300370) for CNY 10.6 million on August 26, 2020. Under the terms of the acquisition Beijing Etrol Technologies Co., Ltd. will within 5 working days after the signing of this agreement, pay intent of CNY 4 million, within 5 working days after this agreement is reviewed and approved by the decision-making bodies of both parties and becomes effective, the share transfer intention money of CNY 4 million will be converted into the share transfer price, and at the same time, Karamay Xiangrui Equity Investment General Partnership will make another payment of CNY 3.4 million, and within three months after both parties cooperate with Karamay Sanda New Technology Co., Ltd to complete the registration procedures for the registration of the change of the shares, the register of shareholders and the modification of the articles of association, the further payment the remaining amount of CNY 3.2 million for the share transfer price to will be made. Post completion of the Beijing Etrol Technologies Co., Ltd. will hold 42.4% of the shares of Sanda New Technology and remain the controlling shareholder of Sanda New Technology. Karamay Sanda New Technology Co., Ltd for the year ended December 31, 2019 reported total assets of CNY 316 million, net assets of CNY 137 million, revenues of CNY 218 million and net profit of CNY 22.5 million. The transaction has been reviewed and approved by Beijing Etrol Technologies Co., Ltd. (SZSE:300370) at the ninth meeting of the fifth board of directors on August 26, 2020.
Sichuan Etrol Technologies Co Ltd, formerly Beijing Etrol Technologies Co Ltd, is a China-based company principally engaged in the research, development, production and distribution of remote terminal units (RTUs). The Companyâs products portfolio consists of RTUs, such as compact RTUs and modular RTUs; oil and gas filed products, such as intelligent pumping unit controllers, wellhead collectors, water source well controllers and others; sensors and instrumentation, such as wired and wireless instruments; environment online detectors, such as data collection and transmission devices, heavy metal online detectors, ammonia and nitrogen online detectors and others, as well as water conservancy measuring and control terminals, among others. It is also involved in the provision of system integration services.
Karamay Xiangrui Equity Investment General Partnership agreed to acquire additional 10% stake in Karamay Sanda New Technology Co., Ltd from Beijing Etrol Technologies Co., Ltd. for CNY 10.6 million.