Tibet Tiangao Yundan Technology Development Partnership Enterprise (Limited Partnership) and Tibet Tianlanlan Venture Capital Management Center (Limited Partnership) cancelled the acquisition of 46% stake in Beijing LingTu Software Technology Co., Ltd. from Zhejiang Kingland Pipeline and Technologies Co.,Ltd..
December 26, 2019
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Tibet Tiangao Yundan Technology Development Partnership Enterprise (Limited Partnership) and Tibet Tianlanlan Venture Capital Management Center (Limited Partnership) signed a stake transfer agreement to acquire 46% stake in Beijing LingTu Software Technology Co., Ltd. from Zhejiang Kingland Pipeline and Technologies Co.,Ltd. (SZSE:002443) for CNY 86.5 million on December 27, 2018. Under the terms of transaction, Tibet Tiangao Yundan Technology Development Partnership Enterprise (Limited Partnership) will acquire an additional 36% stake for CNY 67.7 million and Tibet Tianlanlan Venture Capital Management Center (Limited Partnership) will acquire 10% stake for CNY 18.8 million. Upon completion, Zhejiang Kingland Pipeline and Technologies Co.,Ltd. will no longer hold stake in For the year ended December 31, 2017, Beijing LingTu Software Technology Co., Ltd. had total assets of CNY 92.1 million, net assets of CNY 30.4 million, revenue of CNY 17.4 million, operating loss of CNY 21.8 million and net loss of CNY 20.6 million. The transaction is not subject to approval of shareholders of Zhejiang Kingland Pipeline and Technologies Co.,Ltd. The transaction has been approved by the Board of Zhejiang Kingland Pipeline and Technologies Co.,Ltd.
Tibet Tiangao Yundan Technology Development Partnership Enterprise (Limited Partnership) and Tibet Tianlanlan Venture Capital Management Center (Limited Partnership) cancelled the acquisition of 46% stake in Beijing LingTu Software Technology Co., Ltd. from Zhejiang Kingland Pipeline and Technologies Co.,Ltd. (SZSE:002443) on December 27, 2019.
ZHEJIANG KINGLAND PIPELINE AND TECHNOLOGIES CO., LTD. is a China-based company, principally engaged in the research and development, manufacture and distribution of welded steel pipes. The Company's products consist of galvanized steel pipes, helical weld pipes, steel composite tubes, high frequency welding (HFW) steel pipes, submerged arc welding (SAW) pipes, painted tailpipes and others. The Company distributes its products within domestic market and to overseas markets.
Tibet Tiangao Yundan Technology Development Partnership Enterprise (Limited Partnership) and Tibet Tianlanlan Venture Capital Management Center (Limited Partnership) cancelled the acquisition of 46% stake in Beijing LingTu Software Technology Co., Ltd. from Zhejiang Kingland Pipeline and Technologies Co.,Ltd..
ZHEJIANG KINGLAND PIPELINE AND TECHNOLOGIES CO.,LTD. 