Fujian Electronics & Information Co.,Ltd cancelled the acquisition of 30% stake in Fujian Fushun Micro-Electronic Co.,Ltd from Fujian Furi Electronics Co.,Ltd.
November 13, 2019
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Fujian Electronics & Information (Group) Co.,Ltd signed an agreement to acquire 30% stake in Fujian Fushun Micro-Electronic Co.,Ltd from Fujian Furi Electronics Co.,Ltd (SHSE:600203) for approximately CNY 150 million on November 14, 2018. In related transaction, Fujian Hege Industrial Group Co., Ltd signed share transfer agreement to acquire Fujian Furi Electronic Accessories Co., Ltd from Fujian Furi Industry Development Co., Ltd for CNY 61.3 million on November 13, 2018.
Fujian Fushun Micro-Electronic reported total assets of CNY 313.7 million, net asset of CNY 239.5 million, revenue of CNY 278.4 million and net profit of CNY 30.3 million as of December 31, 2017. The deal is subject to approval from the shareholders of Fujian Furi Electronics at the meeting. The transaction has been approved by the Board of Directors of Fujian Furi Electronics on November 14, 2018. As on November 30, 2018, the transaction has been approved by the shareholders of Fujian Furi Electronics Co.,Ltd.
Fujian Electronics & Information (Group) Co.,Ltd cancelled the acquisition of 30% stake in Fujian Fushun Micro-Electronic Co.,Ltd from Fujian Furi Electronics Co.,Ltd (SHSE:600203) on November 14, 2019.
FUJIAN FURI ELECTRONICS CO., LTD is a China-based company principally engaged in communication and smart appliance business, as well as trading business. The Company operates its businesses mainly through import and export trading of mechanical and electrical products, textile, food, petrochemicals, steel and other types of commodities, as well as the manufacture of light emitting diode (LED) lighting equipment, household appliances and electronic communications products. The Company is also engaged in software and technology development business. The Company conducts its businesses in domestic and overseas markets.
Fujian Electronics & Information Co.,Ltd cancelled the acquisition of 30% stake in Fujian Fushun Micro-Electronic Co.,Ltd from Fujian Furi Electronics Co.,Ltd.