NUEVA Co., Ltd. completed the acquisition of Hong Kong Tatwah Technology Co., Ltd from Tatwah Smartech Co.,Ltd.
April 29, 2024
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NUEVA Co., Ltd. agreed to acquire Hong Kong Tatwah Technology Co., Ltd from Tatwah Smartech Co.,Ltd (SZSE:002512) for CNY 260 million on December 28, 2022. The board of director of Tatwah Smartech approved the transaction. Hong Kong Tatwah Technology recorded total assets of CNY 894.68 million and net assets of CNY 224.79 million as of October 31, 2022. As of April 28, 2023, the parties signed a supplementary agreement on April 27, 2023. The parties agree that before June 30, 2023, Nueva Co., Ltd. shall pay Hong Kong Haitian Satellite Technology CNY 260 million as a security deposit. No interest is charged. After ODI and other approvals are completed and Nueva Co., Ltd. can pay Tatwah Smartech normally, Hong Kong Haitian Satellite Technology will refund the same amount of security deposit to Nueva Co., Ltd. for each payment made by Nueva Co., Ltd. If Nueva Co., Ltd. fails to pay all the equity transfer payment by September 30, 2023, the security deposit paid by Nueva Co., Ltd. will be converted into equity transfer payment.
NUEVA Co., Ltd. completed the acquisition of Hong Kong Tatwah Technology Co., Ltd from Tatwah Smartech Co.,Ltd (SZSE:002512) on April 30, 2024.
Tatwah Smartech Co Ltd is a China-based company mainly engaged in the provision of terminal and system application product solutions. The Company is committed to building a communication network that integrates satellite Internet, big data centers, emergency communications and marine economic operations. The Company mainly conducts its businesses through three segments. The Television (TV) Motherboard and Smart Display segment is mainly engaged in the research and development, manufacturing and sales of smart screens, digital screens, smart TVs and smart display motherboards. The Project Development and System Integration Business segment mainly provides global high-throughput satellite communication services, satellite Internet operation services, communication terminal products and industrial digital applications. The Other Business segment is mainly engaged in other businesses related to communication networks and digital screens.
TATWAH SMARTECH CO.,LTD. 
