Hebei Ningrui Woge Enterprise Management Consulting Co., Ltd. completed the acquisition of 16.49% stake in Jinlong Machinery & Electronic Co.,Ltd from Jinlong Holding Group Co., Ltd.
February 20, 2023
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Hebei Ningrui Woge Enterprise Management Consulting Co., Ltd. won an auction to acquire 16.49% stake in Jinlong Machinery & Electronic Co.,Ltd (SZSE:300032) from Jinlong Holding Group Co., Ltd. for CNY 690.80 million on August 16, 2022. The funds for this auction payment are Hebei Ningrui Woge Enterprise Management Consulting Co., Ltd. own funds and self-raised funds. Among them, the self-owned fund is CNY 250 million and the self-raised fund is a loan from Zhao Baoze. The loan contract is signed on September 20, 2022, the loan amount is CNY 450 million. The total number of shares to be acquired is 132,426,713. On October 11, 2022, the People's Court of Yueqing City, Zhejiang Province issued (2020) Zhejiang 0382 Bankruptcy No. 6-3 "Civil Ruling", ruling that the 132,426,713 shares of Jinlong Machinery & Electronic held by Jinlong Group belong to Hebei Ningrui Woge. On February 20, 2023, the 132,426,713 shares were transferred.
Hebei Ningrui Woge Enterprise Management Consulting Co., Ltd. completed the acquisition of 16.49% stake in Jinlong Machinery & Electronic Co.,Ltd (SZSE:300032) from Jinlong Holding Group Co., Ltd. on February 21, 2023.
Jinlong Machinery & Electronic Co.,Ltd is a China-based company principally engaged in the research, development, manufacture and distribution of micro motors and touch display module products. The Companyâs main products include solid micro motors, flat micro motor, liquid-crystal display (LCD) modules and cover glass, among others. The Company's micro motor products are mainly applied in mobile phones, consumer electronics and cosmetics. The Company distributes its products in domestic and to overseas markets.
JINLONG MACHINERY & ELECTRONIC CO.,LTD 
