Summary by Moomoo AI
BYADY ELECTRONICS (INTERNATIONAL) CO., LTD. (STOCK CODE: 285) ANNOUNCED THAT AS OF DECEMBER 29, 2023, THE COMPANY HAS COMPLETED THE ACQUISITIONS MENTIONED IN THE PREVIOUS ANNOUNCEMENT. The Acquisition was concluded on 28 August 2023 and 27 September 2023 through the Acquisition Framework Agreement and the Formal Agreement. Upon completion of the acquisition, Target Group's financial information will be included in BYD Electronics' consolidated financial statements. Adjusted at the final cash exchange rate, it was approximately RMB142.9 billion (equivalent to US$20.1 billion), based on the actual amount of cash, liabilities and net working capital at the time of delivery. The members of the Board of Directors include Executive Directors Mr. Wang Nin-qiang and Mr. Jiang Xiangwing; Non-Executive Directors Mr. Wang Chiefook and Mr. Wang Bo; and Mr. Chung Kwok Wu, Independent Non-Executive Director.