TCL Technology has completed the acquisition of 100% equity of Zhonghuan Electronics

On September 27, TCL Technology issued an announcement stating that the company had recently paid the transfer price for the acquisition of 100% of Zhonghuan Electronics' equity, and the transaction center had issued the "State-owned Property Rights Transaction Certificate" for this transaction.

It is understood that Zhonghuan Electronics has been publicly listed for transfer at the Tianjin Property Rights Exchange Center since May 20 and is publicly soliciting transferees in accordance with legal procedures. It plans to solicit one transferee, and the total equity transfer ratio is 100% (Tianjin Jinzhi State-owned Capital Investment and Operation Co., Ltd. holds 51% of the equity of Zhonghuan Electronics, and Tianjin Bohai State-owned Assets Operation and Management Co., Ltd. holds 49% of the equity of Zhonghuan Electronics, collectively referred to as the "transferor") (hereinafter referred to as the "target equity").

On July 15, TCL Technology received a notice from the Tianjin Property Rights Exchange Center: After review by the review team and confirmation by the transferor, the company became the final assignee of the target equity, and the parties to the transaction signed the "Property Rights Transaction Contract" on July 17.

On September 8, the State Administration for Market Regulation and the Tianjin State-owned Assets Supervision and Administration Commission completed the approval process for this transaction. The "Property Rights Transaction Contract" for this transaction officially came into effect, and the transfer amount was 12.5 billion yuan.

According to the "Equity Transaction Contract", TCL Technology has recently paid the full equity transfer price, and the transaction center has issued the "State-owned Property Transaction Certificate" for this transaction. Within 60 working days from the date when the transaction center issues the "State-owned Property Transaction Certificate", both parties to this transaction shall cooperate with Zhonghuan Electronics to complete the registration procedures for the equity transfer change.