Hanbang High-Tech Terminates Acquisition of 51% Stake in Yilu Weixing

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Hanbang High-Tech announced on September 30 that it has decided to terminate the acquisition of a 51% equity stake in Anhui Yilu Weixing Technology Co., Ltd. The company had originally planned to purchase the stake from Shenzhen Gaodeng Computer Technology Co., Ltd. through a share issuance and to raise supporting funds. The company stated that, given the extended timeline of the transaction and significant changes in the current market environment compared with the early planning stage, it has decided to terminate the transaction after careful study by the board of directors and friendly negotiation with the counterparty, in order to protect the interests of the company and all shareholders.

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Others▼ · 1 stocks

Off-coverage companies 2

Anhui Yilu Weixing Technology Co., Ltd.Private▼ Negative
Capitalrelevance

The planned acquisition of a 51% stake in Yilu Weixing was terminated, ending the deal that would have brought in new ownership.

Shenzhen Gaodeng Computer Technology Co., Ltd.Private▼ Negative
Capitalrelevance

Shenzhen Gaodeng Computer Technology loses the planned sale of its 51% stake in Yilu Weixing to Hanbang High-Tech.

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