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WanKong Intelligent Manufacturing: Plans to acquire 51% equity of Zhejiang Dongjue for 275 million yuan

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Mars Finance News, June 17—Wankong Intelligent Manufacturing announced that the company plans to acquire 100% of the equity of Zhejiang Dongjue Precision Technology Co., Ltd. (referred to as “Zhejiang Dongjue”) held by Zheng Juke and Li Jiachí in two cash-based steps. In the first step, the company will acquire 51% of Zhejiang Dongjue’s equity for a transaction price of 275 million yuan. After the performance commitment period expires, depending on Zhejiang Dongjue’s performance during the performance commitment period, the company is required or is entitled to choose to acquire the remaining 49% of Zhejiang Dongjue’s equity according to the terms and conditions specified in the agreement. Zhejiang Dongjue’s main products are copper soft connection products, which are widely used in many fields including low-voltage electrical appliances, photovoltaics, energy storage, and new energy vehicles. (Company announcement)
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