Koal Software Co., Ltd. cancelled the acquisition of remaining 51% stake in Zhongchao Koal Smart Card Technology Co., Ltd. from China Banknote Credit Card Industry Development Co., Ltd.
April 25, 2020
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Koal Software Co., Ltd. (SHSE:603232) agreed to acquire remaining 51% stake in Zhongchao Koal Smart Card Technology (Shanghai) Co., Ltd. from China Banknote Credit Card Industry Development Co., Ltd. for CNY 17.1 million on April 26, 2019. On May 29, 2019, Koal Software Co., Ltd. signed a contract to acquire remaining 51% stake in Zhongchao Koal Smart Card Technology (Shanghai) Co., Ltd. from China Banknote Credit Card Industry Development Co., Ltd. Upon completion, Koal Software Co., Ltd. will hold 100% stake in Zhongchao Koal Smart Card Technology (Shanghai) Co., Ltd. For the year ended December 31, 2018, Zhongchao Koal Smart Card Technology (Shanghai) Co., Ltd. had total assets of CNY 35.2 million, net assets of CNY 33 million, revenue of CNY 9.2 million and net loss of CNY 0.1 million. The transaction has been approved by the Board of Koal Software Co., Ltd.
Koal Software Co., Ltd. (SHSE:603232) cancelled the acquisition of remaining 51% stake in Zhongchao Koal Smart Card Technology (Shanghai) Co., Ltd. from China Banknote Credit Card Industry Development Co., Ltd. on April 26, 2020.
Koal Software Co., Ltd., formerly Shanghai Koal Software Co., Ltd., is a China-based company principally engaged in the research and development, manufacture and sales of commercial passwords software products based on public key infrastructure (PKI). The Company's main products include PKI infrastructure products, PKI security application products and general security products. The Company distributes its products within China domestic market.
Koal Software Co., Ltd. cancelled the acquisition of remaining 51% stake in Zhongchao Koal Smart Card Technology Co., Ltd. from China Banknote Credit Card Industry Development Co., Ltd.
KOAL SOFTWARE CO., LTD. 
