Leon Technology's subsidiary plans to acquire Kunshan computing center under construction for 193 million yuan in cash; one director votes against

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Summary · why it matters

Leon Technology announced on the evening of September 15 that its wholly-owned subsidiary Leon Cloud Data (Sichuan) Co., Ltd.'s subsidiary Leon Cloud Data (Kunshan) Co., Ltd. plans to acquire 100% equity of Kunshan Boxi Data Technology Co., Ltd. for 193 million yuan in cash. The target company is still in the construction phase and has not generated any revenue. After the transaction is completed, Boxi Data will be included in Leon Technology's consolidated financial statements. This transaction does not constitute a related-party transaction, nor does it constitute a major asset restructuring, and does not require submission to the shareholders' meeting for review. The proposal was approved at the 14th meeting of the fifth board of directors with 8 votes in favor, 1 against, and 0 abstentions. Director Ge Liangdi cast the opposing vote, citing that the board did not provide her with necessary decision-making materials such as the actual controller of the target company, financial due diligence report, and project feasibility analysis, resulting in missing key decision-making information. The company responded that it has provided all directors with the reference materials required for review, that this transaction does not fall under circumstances where laws and regulations require an audit of the target, and that a due diligence report is not a legally mandatory document.

Impact on stocks 1

Others · 1 stocks
Leon Technology Co Ltd
300603
± MixedCapitalrelevance

Leon Technology's subsidiary plans a 193M yuan cash acquisition of a pre-revenue data center, with one director dissenting over missing decision materials.

Theme Impact 1

Off-coverage companies 3

昆山博玺数据科技有限公司Private± Mixed
Capitalrelevance

Kunshan Boxi Data is the acquisition target, still under construction with no revenue, to be consolidated after the deal.

立昂云数据(四川)有限公司Private± Mixed
Capitalrelevance

Leon Cloud Data (Sichuan) is the wholly-owned subsidiary whose unit is making the 193M yuan acquisition.

立昂云数据(昆山)有限公司Private± Mixed
Capitalrelevance

Leon Cloud Data (Kunshan) is the subsidiary planning to acquire 100% of Kunshan Boxi Data for 193M yuan cash.

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