Recently, Yutong (India) Electronic Technology Co., Ltd. (hereinafter referred to as 'India') has completed the acquisition of the company's wholly-owned subsidiary Hubei Fuxin Precision Electronics Co., Ltd. (hereinafter referred to as 'Hubei Fuxin'). 30% of the shares of Trading Co., Ltd., as well as the completion of the company and Hubei Fuxin's capital increase to India.
It is reported that Yutong (India) Electronic Technology Co., Ltd. (hereinafter referred to as 'India Tongtong') was established on November 2, 2016. Its business scope includes the production and sales of headphone cable, data cable and communication wire. Its shareholding structure is Hubei. Tongtong Communication Wire Co., Ltd. (hereinafter referred to as 'Company') holds 70% of the shares, Tongcheng County Yanghai Trading Co., Ltd. (hereinafter referred to as 'Yanghai Trading') holds 30%.
Audited by Tianjian Certified Public Accountants (special ordinary partner), 2017 India India Tongtong, operating income: 591.12 million yuan, net assets: 567.31 million yuan, net profit: -459.76 million yuan. Now the company and Yanghai trade Friendly negotiation, the company intends to use the wholly-owned subsidiary Hubei Fuxin Precision Electronics Co., Ltd. (hereinafter referred to as 'Hubei Fuxin') to acquire 30% equity of Yanghai Trade based on the registered capital of India Tongtong, about RMB 3 million.
Tongtong Communication stated that in order to further implement the company's development plan, it is in line with the company's industrial development layout. After the acquisition, India's Gantong is still a holding subsidiary of the company, still within the scope of the company's consolidated statements, and will not be responsible for the company's finance and operations. The situation has a major impact.