Stripping The Textile Business, Jialin Jie Plans To Buy 260 Million Stake In Shenzhen Arctic Optoelectronics 100% Yuan.

In July 22nd, capital state news agency, Jia Linjie (002486.SZ) issued a suspension notice on planning the issue of shares to buy assets.


The announcement shows that Jialin Jie is planning to issue shares to buy 100% stake in Arctic photoelectric (Shenzhen) Co., Ltd. (hereinafter referred to as "Shenzhen Arctic photoelectric"), and to raise matching funds (hereinafter referred to as "the transaction"). According to the relevant provisions of the Shenzhen stock exchange, Jialin Jie has been suspended since July 23, 2019.


In the transaction, the transfer price of the 100% stake in Shenzhen Arctic photoelectric is RMB 260 million yuan, and the final pricing is based on the assessment result confirmed by the asset appraisal institution with the qualification of securities business, and it shall be determined by all parties through fair consultation.


Jia Linjie is mainly engaged in the production and sales of high end knitted fabrics. The company went public in October 15, 2010. On the same day, Jialin Jie also said that in order to further improve and optimize the textile business structure of Shanghai Jialin Jie textile Limited by Share Ltd (hereinafter referred to as "company", "Jialin Jie" and "listed companies"), improve the business synergy ability and management efficiency, the company intends to transfer the related assets and liabilities of the textile business under the parent company to the wholly owned subsidiary of Shanghai, Jialin Jie Textile Technology Co., Ltd. (hereinafter referred to as "Textile Science and technology").




The overall transfer plan is as follows: the company intends to transfer the relevant assets and liabilities of the textile business in the parent company under the transfer benchmark date of March 31, 2019, except for those that cannot be transferred because of the objective reasons, to be transferred to the textile science and technology according to the unaudited book value. The changes in assets and liabilities arising from the transfer date from the base date to the actual transfer date will be adjusted and transferred according to the actual situation.


In July 22, 2019, at the thirty-third meeting of the Fourth Board of directors of the company, the motion on transferring part of the assets and liabilities of the parent company to a wholly owned subsidiary was deliberated and authorized by the management to deal with the specific matters related to the transfer of assets and liabilities. The transaction still needs to be submitted to the shareholders' meeting for deliberation.