Hengxin Technology (01085) issued an announcementp2ebinance, on May 20, 2024, the buyer (companyp2ebinanceXinkexin (Suzhou) Technology Co., Ltd., an indirect wholly-owned subsidiary of Xinkexin (Suzhou) Technology Co., Ltd., intends to acquire the remaining 49% equity interests in each target company (Nanjing Zhangyu and Shanghai Zhangyu) from the sellers (Xuzhou Jinkan and Mr. Bai Yuanliao) at a consideration of RMB 5 in cashp2ebinance.22 billion yuan.
Nanjing Zhangyu is mainly engaged in the development, design and sales of integrated circuits, digital products, computer hardware, computer technology applications and software, as well as technical consulting and technical services. Shanghai Palm is mainly engaged in providing network security and software solutions to the financial industry. After the transaction is completed, the company will indirectly hold the entire equity of the target company through the buyer, and the financial statements of each company in the target group will continue to be incorporated into the group's financial statements.
The Board believes that the acquisition will allow the Group to fully control the management and operations of the target company, simplify the decision-making process, and allow the company to implement strategic plans that are in line with the company's business goals in a timely manner.
