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Three Deguan has completed equity transfer Chongda Technology: 40%
2019-07-19 09:25
Chongda Technology Co., Ltd. (hereinafter referred to as the "Company" or "Chongda Technology") and Lou Yuxing, Lou Shuai, and Lv Ya signed the "(II) of the Equity Transfer Agreement between Chongda Technology Co., Ltd. and Lou Yuxing, Lou Shuai, and Lv Ya on Shenzhen Sandeguan Precision Circuit Technology Co., Ltd." on April 1, 2019. The company intends to continue to acquire 20% of Shenzhen Sandeguan Precision Circuit Technology Co., Ltd. (hereinafter referred to as "Sandeguan") with its own capital of 180 million yuan.
On July 16, 2019, the company received a notice from Sandeguan, learned that Sandeguan has completed the equity transfer and other related industrial and commercial change registration procedures, and obtained the "Change (Filing) Notice" issued by the Shenzhen Municipal Market Supervision Administration. So far, the company holds a total of 40% of the shares of three Deguan, its equity structure is:
PCB accounts for 95% of the company's revenue. Its products cover a variety of products, such as double-sided board, high multilayer board, HDI, hard and soft board, etc. The number of downstream customers exceeds 1000, covering more than 50 countries and regions. However, the company's focus on the small batch market has limited the company's development. Since 2015, the company has actively transformed into large batch. By 2017, the sales of large batch products accounted for 57% of the company's total revenue, and 70% of the new orders were also medium and large batch orders. The successful transition to high volume marks another important step in the company's development into a world-class enterprise.
The company has set up factories in Shenzhen, Jiangmen and Dalian, which are responsible for the production of high-end PCB, 4-8 layer multilayer board and single/double panel. The company's product sales are strong, the capacity utilization rate is close to 90%, the production and sales rate is close to 100. The company has expanded its production capacity through technological transformation and new plant construction. The second phase of the IPO project Jiangmen will reach production in December 2018. After reaching production capacity, HDI circuit boards of 240000 square meters per year and high-rise boards of more than 8 floors will be formed respectively. In addition, the company invested 2.5 billion yuan in Zhuhai to build a factory with an annual production capacity of 6.4 million square meters in three phases, of which the first phase of the project invested 1 billion yuan and started construction in 2018Q2.
[Printed Circuit Information] According to China Securities Journal and financial reports
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