On October 28, KLOU issued an announcement regarding the acquisition of minority shareholder equity in its holding subsidiary, Shanghai Dongzi Electrical Co., Ltd.
The announcement stated that to further improve KLOU’s operational decision-making efficiency, strengthen its control over the holding subsidiary Shanghai Dongzi Electrical Co., Ltd., and enhance the company’s profitability and core competitiveness, KLOU and its wholly-owned subsidiary Shenzhen KLOU Energy Service Holding Co., Ltd. would jointly acquire the 34.9173% equity held by 25 natural persons, including Shanghai Donghe Electric Partnership (Limited Partnership) and Bao Yue, in Shanghai Dongzi. The total acquisition price is RMB 14,141,506.9. Upon completion, KLOU will hold 100% equity of Shanghai Dongzi.
According to the announcement, Shanghai Dongzi Electrical Co., Ltd. was established in 2009, with Gao Yan as the legal representative and a registered capital of RMB 38.09 million. The company’s business scope includes import and export of goods and technologies; research and development of distribution switch control equipment; sales of distribution switch control equipment; software development; and technical services including technical development, technical consulting, technical exchange, and technology transfer in the field of distribution equipment.
KLOU stated that after fully acquiring Shanghai Dongzi, it will further improve decision-making efficiency in the distribution switch control equipment field and enhance competitiveness in the distribution equipment market.
Source:Bjx Power Network