On November 28th, Hengtong Optic-Electric (600487.SH) announced that the company signed a "Share Transfer Agreement" with China National Machinery Industry Corporation Manufacturing Industry Transformation and Upgrading Fund (Limited Partnership) (referred to as "China National Machinery Industry Corporation Fund"), to acquire 21.25 million shares of Jiangsu Hengtong Huahai Technology Co., Ltd. (referred to as "Hengtong Huahai" or "the target company", formerly known as Jiangsu Hengtong Marine Optical Network System Co., Ltd.) held by the China National Machinery Industry Corporation Fund, accounting for 3.9111% of the total share capital of Hengtong Huahai. The transaction amount is 304.31 million yuan. After this transaction is completed, the company's stake in Hengtong Huahai will increase to 75.9968%.
In recent years, Hengtong Huahai's marine communication business has shown significant performance growth, with abundant orders in hand. Considering China National Machinery Industry Corporation Fund's own investment decision arrangements, in order to further focus on the marine communication business, increase the company's stake in Hengtong Huahai, enhance the company's net income attributable to shareholders, and increase earnings per share, the company plans to acquire some of the Hengtong Huahai shares held by China National Machinery Industry Corporation Fund.
