Jianyi Group (00638) spends 30 million yuan to increase the interests of the company Glass Processing – Economic Communication ET Net

"Agency News Economic Press 26 "Jianyi Group (00638) announced that For its chairman and CEO Zheng Chujiequan
belonging to the company, the acquisition of the creation of 51% of the economy glbad technology of & # 39; 39, energy (business target) with the sale of loans, the cost of 30 million
yuan. At the end of the acquisition, the Jianyi Group's stake in the target company will increase to 64%. The consideration will be settled in cash using internal resources or external financing (including bank loans).
Target group primarily engaged in the sale and downstream processing of glbad, including but not limited to glazing units, glazing modules and digital printing
design, manufacture and installation of wall systems glbad curtains and sales developed by the target company. The switchable projection lens is wide
. In particular, the target company has successfully developed the ability to instantly convert clear and transparent glbad to a projection surface. The corresponding patents have been granted or are pending in China
.
The Board is of the opinion that the Acquisition is a strategy adapted to the development of the Group and to a diversification of its customers, products and services
. In particular, the target group has obtained orders for glbad processing projects and glbad curtain walls of about 120 million RMB
(about HK $ 138 million). As the target group's activities are not based on imports and exports, existing target group activities will also be exposed to low group risk due to trade disputes between the US, China and Europe. . (cl)