Chengdu Fanxiu Industrial Co., Ltd. intends to acquire 5% stake in Chengdu Yifang Investment Co., Ltd. from Chengdu Xuguang Electronics Co., Ltd. for CNY 26.5 million.
June 09, 2020
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Chengdu Fanxiu Industrial Co., Ltd. intends to acquire 5% stake in Chengdu Yifang Investment Co., Ltd. from Chengdu Xuguang Electronics Co., Ltd. (SHSE:600353) for CNY 26.5 million on June 9, 2020. Under the terms, payment will be made in single installment. The financials of Chengdu Yifang Investment for the year ended December 31, 2019, are total assets of CNY 974.94 million, net assets of CNY 412.14 million, operating revenue of CNY 69.54 million and net profit of CNY 25.18 million. The transaction is approved by the Board of Directors of Chengdu Xuguang Electronics. The transaction does not need approval of shareholders of Chengdu Xuguang Electronics.
Chengdu Xuguang Electronics Co., Ltd. is a China-based company principally engaged in the research, development, manufacturing and sales of metal ceramic electrical vacuum devices, high and low voltage distribution devices, photoelectric devices and others. The Company's primary products include vacuum tubes, switch tubes, high voltage switch cabinets, low voltage switch cabinets, breakers, photoelectric devices and others. The Company's products are mainly used in electricity, metallurgy, radio and television sectors. The Company mainly distributes its products in domestic markets and overseas markets.
CHENGDU XUGUANG ELECTRONICS CO., LTD. 
