Xinli International (00732) issued an announcement. On April 3, 2024, the buyer Xinli Optoelectronics Co., Ltd. (public...
Zhitong Finance App News, Xinli International (00732) announced that on April 3, 2024, the buyer Xinli Optoelectronics Co., Ltd. (an indirect non-wholly-owned subsidiary of the company) and the seller Renshou Ji'an No. 1 Investment Center (limited partnership) entered into this agreement on further acquisition matters (a share transfer agreement for the acquisition of about 12.55% of Xinli Renshou's shares). The buyer agreed to buy and the seller agreed to sell 12.55% of Xinli Renshou's shares at a total cost of RMB 1,097 billion.
As of the date of this announcement, Xinli Renshou held approximately 17.14%, 18.57% and 64.29% of the interests of the buyer, seller and Renshou Investment respectively. Following the completion of the further acquisition, the buyer will hold approximately 29.69% of Xinli Renshou's shares. Through the buyer, the company will indirectly hold approximately 29.69% of Xinli Renshou's shares, while Xinli Renshou will remain an associated company of the group. The seller and Renshou Investment will hold approximately 6.02% and 64.29% of Xinli Renshou's remaining shares, respectively.
The company established Xinli Renshou to enhance the company's production capacity to supply TFT-LCD display products to meet the needs of the Group's customers. The performance of TFT-LCD display production has continued to improve over the past few years, so the company is optimistic about its future prospects. As a result, the Group decided to increase its shareholding in Xinli Renshou.