Veken Technology Co., Ltd. cancelled the acquisition of 10% stake in ALD Group Limited from Zuo Hong.
June 03, 2020
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Veken Technology Co., Ltd. (SHSE:600152) agreed to acquire 10% stake in ALD Group Limited from Zuo Hong for CNY 100 million on June 4, 2019. Under the terms of transaction, Veken Technology Co., Ltd. will pay a first installment of CNY 50 million within three days of signing agreement and a second installment of CNY 50 million will be paid within three days since completion of change of registry procedures. For the year ended December 31, 2018, ALD Group Limited had total assets of CNY 272 million, net assets of CNY 109 million, revenue of CNY 433 million and net profit of CNY 108 million. The transaction has been approved by the Board of Veken Technology Co., Ltd.
Veken Technology Co., Ltd. (SHSE:600152) cancelled the acquisition of 10% stake in ALD Group Limited from Zuo Hong on June 4, 2020.
Veken Technology Co Ltd is a China-based company mainly engaged in the research and development, production and sales of lithium-ion batteries. The Company's consumer electronics products include pure manganese batteries, ternary batteries, ternary manganese-added batteries, ternary cobalt-added batteries, and pure cobalt batteries, which are mainly used in smartphones, laptops, power banks, smart homes, and drones. The Company's small power battery products include lithium iron phosphate batteries and ternary batteries, which are mainly used in electric two-wheeled vehicles, power tools and other fields. The Company distributes its products within the domestic market and to overseas markets.
VEKEN TECHNOLOGY CO., LTD. 
