Wuxi Best Precision Machinery Co., Ltd. and Wuxi Best Investment Co., Ltd cancelled the acquisition of 70% stake in Wuxi Xudian Technology Co., Ltd from Shi Li and Shi Jie.
May 06, 2019
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Wuxi Best Precision Machinery Co., Ltd. (SZSE:300580) and Wuxi Best Investment Co., Ltd signed the transfer agreement to acquire 70% stake in Wuxi Xudian Technology Co., Ltd from Shi Li and Shi Jie for CNY 56 million on May 7, 2018. Wuxi Best Precision Machinery Co., Ltd will acquire 20% stake and Wuxi Best Investment Co., Ltd will acquire 50% stake in Wuxi Xudian Technology respectively for CNY 16 million and CNY 40 million respectively. Post transaction, Wuxi Best Precision Machinery Co., Ltd and Wuxi Best Investment Co., Ltd will hold 20% and 50% stake in Wuxi Xudian Technology. Wuxi Xudian Technology reported total assets of CNY 38.6 million and net assets of CNY 25.4 million as of December 31, 2017 and revenues of CNY 30.5 million, operating profit of CNY 11.9 million and net profit of CNY 10.1 million for the year ended December 31, 2017. The transaction is approved by the Board of Wuxi Best Precision Machinery Co., Ltd.
Wuxi Best Precision Machinery Co., Ltd. (SZSE:300580) and Wuxi Best Investment Co., Ltd cancelled the acquisition of 70% stake in Wuxi Xudian Technology Co., Ltd from Shi Li and Shi Jie on May 7, 2019.
Wuxi Best Precision Machinery Co Ltd is a company engaged in research, development, production and sales of auto parts. The Company's products include fuel auto parts, new energy auto parts, aircraft cabin parts, intelligent equipment and tooling, as well as intelligent manufacturing system integration products. The auto parts include turbocharger impeller, engine block, hydrogen fuel electric turbo compressor housing and so on.
Wuxi Best Precision Machinery Co., Ltd. and Wuxi Best Investment Co., Ltd cancelled the acquisition of 70% stake in Wuxi Xudian Technology Co., Ltd from Shi Li and Shi Jie.
WUXI BEST PRECISION MACHINERY CO., LTD. 
