Yangtze Optical Fibre And Cable Joint Stock Limited Company entered into a share purchase agreement to acquire 28.42% equity interest in Yangtze Optical System Co., Ltd. from WuHan Yangtze Communication Industry Group Co.,Ltd for CNY 20.6 million.

Yangtze Optical Fibre And Cable Joint Stock Limited Company (SEHK:6869) entered into a share purchase agreement to acquire 28.42% equity interest in Yangtze (Wuhan) Optical System Co., Ltd. from WuHan Yangtze Communication Industry Group Co.,Ltd (SHSE:600345) for CNY 20.6 million on February 18, 2021. As at the date of this announcement, Yangtze (Wuhan) Optical System is held as to 46.32% by the Yangtze Optical Fibre And Cable Joint Stock Limited Company, 28.42% by WuHan Yangtze Communication Industry Group, 20% by Hubei Guangyuan Electric, 2.89% by Mr. Meng Kai and 2.37% by Mr. Yang Nianqun, respectively. Upon completion of the Acquisition, Yangtze (Wuhan) Optical System will become a non-wholly owned subsidiary of Yangtze Optical Fibre And Cable Joint Stock Limited Company.

As of December 31, 2020, Yangtze (Wuhan) recorded total assets of CNY 120 million, net assets of CNY 72 million, net profit of CNY 1.5 million, operating revenue of CNY 90.4 million.