On September 27, 2021, Gelonghui Announced that 603629.SH on May 26, 2021, the Company participated in the auction of 57.53% of the equity of Nanjing Jinning Microwave Co., Ltd. ("Jinning Microwave" or the "Target Company") and won the bid at a price of 54 million yuan, as of the announcement date, the equity transfer has been approved by the National Defense Science and Technology Industry Bureau, and Litong Electronics has signed with Nanjing CLP Panda Information Industry Group Co., Ltd. ("CLP Panda") on September 26, 2021. A property rights transaction contract was signed, and the transaction amount of 54 million yuan has been paid.
As of the announcement date, the company has paid 39.87 million yuan to all minority shareholders of Jinning Microwave and obtained 42.47% of the equity of Jinning Microwave held by it.
After the completion of the transaction with CLP Panda, the company acquired 100% of the equity of Jinning Microwave.
This article originated from Grand Gateway
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