CNBM (03323) announced that on October 25, 2024, Sinoma Science & Technology (Chengdu) (subsidiary of the company, buyer) entered into an asset acquisition agreement with Sinoma Smartech (Chengdu) (a subsidiary of Sinoma International Engineering, a related party of the company, seller) who holds the subject assets, agreeing to transfer the subject assets to the corresponding buyer for a total of 89.7232 million yuan (including taxes) through asset transfer.
According to the asset acquisition agreement, the subject assets of this transaction are the factories, land use rights, and related machinery equipment, electric appliances owned by the seller located at No. 320 and No. 436 Pingtang East Road, Jinhuazhen, Xinjin District, Chengdu City, Sichuan Province, China. The land use right covers an area of approximately 0.0585 million square meters, categorized as industrial land, with a usage term of 50 years expiring on February 25, 2065. The properties include 4 factories with a total construction area of approximately 0.0365 million square meters.
The asset acquisition agreement and the proposed transaction can enhance the asset utilization of Sinoma Smartech (Chengdu).
