On 24 July 2017, Tianjin Jing Wei Electric Wire Co., Ltd. (stock code: 300120.SZ, Stock Name: JINGWEIDIANCAI) received the approval from China Stock Regulatory Commission for asset purchase from Yongzhoufui Investment Co., Ltd. and fund-raising.
Jing Wei Electric Wire Co., Ltd. purchases 100% equity interest of shares of Xinhui Technology (Shenzhen) Co., Ltd. (hereinafter referred to as "Xinhui") by issuing shares and paying cash.
The Xinhui focuses on the research and development, production and sales of touch screen, small and medium size liquid crystal display, module and other flat display industrial chain related products towards, as well as providing one-stop service of touch display products. Its products are widely used in car display, medical equipment, industrial control and other fields. After years of development, it has accumulated impressive technical strength and experience, becoming a leading player in the industry.
With a high market reputation, it is widely recognized by well-known customers both at home and abroad. It is an important supplier of Flextronics and Honeywell.
The sales markets of its main products are the United States, Europe (France, Germany, UK), three regions of Asia-Pacific (China, southeast Asia, Japan and South Korea), In 2016, its overseas revenues accounted for 87.38% of main business income.
After the closing of the acquisition, Jing Wei Electric Wire Co., Ltd. will turn from focusing on single high-end electromagnetic wire and power equipment manufacturing tocoordination of high-end electromagnetic wire and power equipment manufacturing and touch display products manufacturing realizing its industry upgrading.
In this transaction, Guantao served as the legal advisor to the Issuer. The Guantao team for this transaction included Ms. Hao Jingmei, Ms. Chen Zhongye, Mr. Xiong Youqiu and Ms. Zhan Menglu.