Hang Seng Electronics announced on the evening of November 9 that the company signed a letter of intent with the other 17-party shareholders of Zhejiang Weier Technology Co., Ltd. ("Vail Technology") and Yuanfang Optoelectronics. Yuanfang Optoelectronics intends to acquire 100% equity of Weier Technology held by 18 shareholders including Zou Jianjun and the latter. The overall valuation of the latter is estimated to be approximately RMB 1 billion.
As of the announcement date, Hang Seng Electronics holds a total of 18.625% equity interest in Weier Technology.
The announcement said that the final completion of the above-mentioned equity acquisition requires the parties to sign the formal acquisition agreement and subject to various internal and external approvals, and the matter still needs to be approved by the company's authorized approval body (board or shareholders meeting). Upon completion of the above acquisition, the revenue contribution from the acquisition will have a significant impact on the company's performance during the corresponding period.
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6V AC DC Switching Power Adapter
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