ATLINKS (08043) announced that on January 2, 2024, the company's indirect wholly-owned subsidiary At...
According to Zhitong Financial App, ATLINKS (08043) announced that on January 2, 2024, the company's indirect wholly-owned subsidiary Atlinks R&D (as the buyer) and the seller (Li Mantao and Lin Huizhi) entered into a trading agreement. Based on this, Atlinks R&D has agreed to acquire 100% of the issued share capital of the target company.
According to reports, the target companies were all incorporated in Hong Kong between 2020 and 2022. Among them, Fifth Generation Health Co., Ltd. and Fifth Generation Health Online Co., Ltd. are software development companies that provide end-to-end solutions to iOVT (Video Internet of Things), including firmware, cloud connection software and application software development services, and sell UDIDs (unique device identification codes) and related services for these various devices. As for Pretty Time Technology Co., Ltd. and Pretty Time Co., Ltd., they sell video baby monitor products under the “Chillax” brand.
After the share acquisition is completed, the company will indirectly own 100% of the target company's total issued share capital, and each target company will be recorded as a subsidiary of the company.
The directors viewed the share acquisition as a good business opportunity because the target company could provide new products and services, enhance hardware and software development technology, simplify the cost structure of the company's products and logistics, and diversify its business operations by expanding into the North American (US and Canada) market, thereby improving the company's ability to generate revenue.