Summary by Moomoo AI
Hongteng Precision Technology Co., Ltd. ("Hongteng Precision") announced that its indirectly wholly-owned subsidiary, Fuyu Electronics Technology (Huai'an) Co., Ltd., entered into a share purchase agreement with Zibo Yingcai Investment Partnership Enterprise (Limited Partnership) and an independent third party individual on August 5, 2024. Under the agreement, Fuyu (Huai'an) conditionally agreed to purchase 70% equity interest in Shandong Huayun Optoelectronic Technology Co., Ltd. for a transaction consideration of RMB220,683,102.5 yuan (approximately US$30,520,473). The consideration for the proposed acquisition was determined after reference to the valuation report prepared by an international financial advisory firm on May 31, 2024. As all relevant applicable percentages are less than 5%, the acquisition does not constitute a discloseable transaction. Hongteng Precision reminds shareholders and potential investors to exercise caution when trading in stocks.