Cai Yuanhong signed equity transfer agreement to acquire 30% stake in Wuhan Jinglun Electric Co., Ltd. from Routon Electronic Co., Ltd. for CNY 30 million.
December 10, 2020
Share
Cai Yuanhong signed equity transfer agreement to acquire 30% stake in Wuhan Jinglun Electric Co., Ltd. from Routon Electronic Co., Ltd. (SHSE:600355) for CNY 30 million on December 11, 2020. Cai Yuanhong should pay the equity transfer amount of RMB 18 million before December 25, 2020. After the transaction, Routon Electronic Co., Ltd. will hold 14.15% stake and Cai Yuanhong will holds 61.69% stake in Wuhan Jinglun Electric Co., Ltd. As of November 30, 2020, Wuhan Jinglun Electric Co., Ltd. recorded total assets of CNY 87.21 million, net assets of CNY 51.65 million, total revenue of CNY 29.88 million and net profit of CNY 5.25 million. . As of December 31, 2019, Wuhan Jinglun Electric Co., Ltd. recorded total assets of CNY 80.62 million, net assets of CNY 46.41 million, total revenue of CNY 77.57 million and net profit of CNY 5.46 million. As of December 11, 2020,board of directors of Routon Electronic Co., Ltd. approved the deal. The transaction is subjected to approval from shareholders of Routon Electronic Co., Ltd.
Routon Electronic Co., Ltd. is a China-based company principally engaged in the manufacture and sales of intelligent control products, consumer terminal products and intelligent Internet products. The Company's consumer terminal products include control products, identity card reading machine products, electronic communications products and others. The company distributes its products mainly within domestic market.
Cai Yuanhong signed equity transfer agreement to acquire 30% stake in Wuhan Jinglun Electric Co., Ltd. from Routon Electronic Co., Ltd. for CNY 30 million.
ROUTON ELECTRONIC CO., LTD. 
