Sinoma Technology (Chengdu), a subsidiary of China Building Materials (03323), plans to acquire the target assets for 897.23,200 yuan

Zhitongcaijing · 10/25 13:49

According to Zhitong Finance App, China Building Materials (03323) issued an announcement. On October 25, 2024, Sinoma Technology (Chengdu) (the company's subsidiary, buyer) entered into an asset acquisition agreement with Sinoma Intelligence (Chengdu) (a subsidiary of Sinoma International, a related subsidiary of the company, the seller) holding the underlying assets. The seller agreed to transfer the underlying assets to the corresponding buyer through asset transfer at a consideration of RMB 897.23,200 (tax included).

According to the asset acquisition agreement, the subject assets of this transaction are the seller's factories, land use rights, and related machinery, equipment, and electronic equipment located at No. 320 and No. 436 Pingtang East Road, Jinhua Town, Xinjin District, Chengdu, Sichuan Province, China. The land use rights cover an area of about 58,500 square meters. The land type (use) is an industrial land type. The period of use is 50 years and expires on February 25, 2065. The related property includes 4 factories with a total construction area of about 36,500 square meters.

The asset acquisition agreement and proposed transactions under it can improve the asset utilization rate of Sinoma Intelligence Technology (Chengdu). Initially, Sinoma Intelligent Technology (Chengdu) purchased land use rights and built its own factory to carry out an investment project. The purchase cost of the land use rights was approximately RMB 9.0987 million. Since then, due to business transformation, most of the target assets, plants, machines, and electronic equipment have been idle. Once the asset acquisition is completed, such assets can be put into use. Furthermore, the asset acquisition agreement and proposed transactions under it will enable Sinoma Intelligence (Chengdu) to revitalize its assets and supplement its working capital. Furthermore, the target asset is adjacent to Sinoma Technology (Chengdu) and its related projects, and the proposed transactions under the asset acquisition agreement can help Sinoma Technology (Chengdu) invest in its production line.