Xintian Technology acquires water meter manufacturer to spend 8 million
The company signed an equity transfer agreement with Jiangsu Yuanchuan Intelligent Technology Co., Ltd. (abbreviated as "Jiangsu Yuanchuan") and its shareholders Changzhou Yuanchuan Intelligent Technology Research Institute (abbreviated as "Yanyuan Research Institute") and Tan Xiaobin. The company acquired a 55% stake in Jiangsu Farcomm with a price of no more than 8 million yuan, and completed a change in industry and commerce in recent days. Jiangsu Fares has become a holding subsidiary of the company.
Yuanchuan Research Institute transferred 22.17% equity of Jiangsu Yuanchuan, Xintian Technology subscribed with no more than RMB 3.2248 million; Tan Xiaobin transferred all its 32.83% equity, and Xintian Technology subscribed with no more than RMB 4,775,200.
Yuan Chuan Institute and Tan Xiaobin promised that Jiangsu Yuanchuan achieved sales of not less than RMB 20 million in 2016, net profit after deducting non-recurring gains and losses not less than RMB 2.6 million, and net cash flow from operating activities of not less than 260 Ten thousand yuan.
Jiangsu Yuanchuan is a high-tech enterprise specializing in R&D, production, sales, and service of rotary-wing liquid-enclosed remote water meters, rotary-wing wet-water meters, photoelectric direct-reading remote water meters, photoelectric direct-reading electronic modules, and the like. One of the earliest manufacturers who researched and produced photoelectric direct-reading remote water meters, has the core technology and independent intellectual property rights of the photoelectric direct-reading remote water meters, and is in the leading position in photoelectric direct reading and cable remote transmission technologies, especially in liquid-sealed photoelectric direct Reading the remote water meter has a unique, stable and reliable core process technology.
Xintian Technology stated that the company’s acquisition of equity in Jiangsu Yuanchuan will further improve the company’s product chain and enrich the company’s product range, which will help the company form a complete technical solution in the field of smart water and smart watches.
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