Shareate Tools (SHA:688257) directors approved the purchase of an 80% stake in Xinxiang Huilian Electronic Technology for 800 million yuan, according to a Friday filing with the Shanghai bourse.
The listed company also bought a 70% stake in Winwin Hitech (Thailand) for 28 million yuan as part of the package for the above transaction to resolve competition with Xinxiang Huilian Electronic Technology and expand its overseas footprint.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.