Henglin Home Furnishings Co.,Ltd cancelled the acquisition of Xinjiang Hengsheng Intelligent Communication Technology Co., Ltd. from Wang Aiqin and Mei Yiting
April 15, 2024
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Henglin Home Furnishings Co.,Ltd (SHSE:603661) agreed to acquire Xinjiang Hengsheng Intelligent Communication Technology Co., Ltd. from Wang Aiqin and Mei Yiting for approximately CNY 150 million on February 26, 2024. The consideration consists of CNY 154.5 million in cash. As part of the consideration, CNY 1 million was paid towards common equity and CNY 153.5 million was paid towards non-convertible debt. Henglin Home will finance CNY 1 million from its own funds. Xinjiang Hengsheng reported total assets of CNY 154.5 million and net assets of CNY 0.97 million as on February 27, 2024. The transaction was unanimously approved in the special meeting of Independent Directors and by the audit committee. Board of Directors of Henglin Home approved the acquisition.
Henglin Home Furnishings Co.,Ltd (SHSE:603661) cancelled the acquisition of Xinjiang Hengsheng Intelligent Communication Technology Co., Ltd. from Wang Aiqin and Mei Yiting on April 16, 2024.
Henglin Home Furnishings Co., Ltd, formerly Zhejiang Henglin Chair Industry CO., LTD. is a China-based company principally engaged in the research and development, manufacture and sales of seated products and accessories. The Company's main products include office chairs, sofas and massage chairs. The Company's main customers include IKEA, Staples and others. The Company distributes its products within domestic market and to overseas markets, including the United States, Canada, Germany, France and Australia, among others.
Henglin Home Furnishings Co.,Ltd cancelled the acquisition of Xinjiang Hengsheng Intelligent Communication Technology Co., Ltd. from Wang Aiqin and Mei Yiting