Beijing JCZ Technology Co. Ltd. AJinchengzi plans to acquire a controlling stake in Zhibo Taike via share issuance and cash, a major asset restructuring that is positive for the acquirer.

Jinchengzi announced on the evening of September 7 that it is planning to acquire a controlling stake in Shenzhen Zhibo Taike Technology Co., Ltd. through the issuance of shares and cash payment, along with raising supporting funds. Trading in its shares will be suspended from September 8, expected to last no more than five trading days. Zhibo Taike was founded in 2015, with a registered capital of 5.263157 million yuan, and focuses on motion control and automation products. The counterparties include shareholders such as Lin Zirong, and a letter of intent has been signed, with the final price to be determined after appraisal. The transaction is expected to constitute a major asset restructuring but will not result in a change of actual controller. In the first half of the year, Jinchengzi reported revenue of 133 million yuan and net profit of 63.9657 million yuan, up 130.91 percent year on year, mainly due to investment income from the disposal of equity interests.
Beijing JCZ Technology Co. Ltd. AJinchengzi plans to acquire a controlling stake in Zhibo Taike via share issuance and cash, a major asset restructuring that is positive for the acquirer.
Zhibo Taike is the acquisition target, with its shareholders set to receive shares and cash from Jinchengzi.