Xiamen Solex High-tech Industries Co., Ltd. signed an agreement to acquire 51% stake in Bestter Technology ,.Inc from Xiamen Beimiao Investment Partnership (Limited Partnership), Xiamen Beiben Investment Partnership (Limited Partnership), Gouchen Capital Investment Management Co., Ltd., Gong Binhua, Wu Duanyu and Wang Jingui for approximately CNY 290 million.
May 05, 2021
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Xiamen Solex High-tech Industries Co., Ltd. (SHSE:603992) signed an agreement to acquire 51% stake in Bestter (XiaMen) Technology ,.Inc from Xiamen Beimiao Investment Partnership (Limited Partnership), Xiamen Beiben Investment Partnership (Limited Partnership), Gouchen Capital (Xiamen) Investment Management Co., Ltd., Gong Binhua, Wu Duanyu and Wang Jingui for approximately CNY 290 million on April 29, 2021. As per update on August 5, 2021, first installment of consideration paid on May 19, 2021 while second installmentof 50% consideration shall be payable within 10 working days after the completion of transaction. Post completion, Gouchen Capital (Xiamen) Investment Management Co., Ltd. and Wang Jingui will hold no stake while Xiamen Beimiao Investment Partnership (Limited Partnership), Xiamen Beiben Investment Partnership (Limited Partnership), Wu Duanyu and Gong Binhua will hold 5.51%, 3.67%, 23.09% and 16.72% stake in Bestter (XiaMen) Technology ,.Inc. As of March 31, 2021, Bestter (XiaMen) Technology ,.Inc has reported total assets of CNY 550.98 million and net assets of CNY 245.82 million. The Board of Directors of Xiamen Solex High-tech Industries Co., Ltd. has approved the transaction and it's shareholder's approval is not required.
Xiamen Solex High-Tech Industries Co., Ltd. is a China-based company principally engaged in the research and development, production and sales of sanitary system products. The Company's main products include shower accessories such as shower heads, shower systems, faucets, hoses, lifting rods and their spare parts. In addition, the Company is also engaged in the production and sales of other essential household products such as shower rooms, bathroom cabinets and cabinets. The Company's products are widely used in house building kitchens and bathrooms such as family homes, hotels, guesthouses and office buildings. The Company distributes its products both in the domestic market and to overseas market.
Xiamen Solex High-tech Industries Co., Ltd. signed an agreement to acquire 51% stake in Bestter Technology ,.Inc from Xiamen Beimiao Investment Partnership (Limited Partnership), Xiamen Beiben Investment Partnership (Limited Partnership), Gouchen Capital Investment Management Co., Ltd., Gong Binhua, Wu Duanyu and Wang Jingui for approximately CNY 290 million.
XIAMEN SOLEX HIGH-TECH INDUSTRIES CO., LTD. 
