[XGNews]: Flextronics group sells an enterprise in Zhuhai to Lingyi Technology

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The following is the [XGNews]: Flextronics group sells an enterprise in Zhuhai to Lingyi Technology recommended by xgapn.com.

News on December 22 (Yueming) lingyizhizao announced that the company plans to acquire 100% equity of Flextronics industrial Zhuhai (Mauritius) Co., Ltd. held by Flextronics industrial Zhuhai (Zhuhai) Co., Ltd. through its wholly-owned subsidiary Shenzhen Lingyi Technology Development Co., Ltd. Flextronics industry (Zhuhai) Co., Ltd. is only one of several corporate enterprises invested by Flextronics group in Zhuhai. At present, Flextronics group still has more than 400000 square meters of park in Zhuhai.

Lingyi Zhizao pointed out in the announcement that through the equity acquisition, the company will own the land and factory buildings and other assets of the plant area sold. The total consideration of this transaction is equivalent to the US dollar equivalent of the sum of RMB 368 million plus the cash balance at delivery (monetary capital is RMB 16.9609 million as of November 30, 2020). The way of capital contribution for the acquisition of the company is cash, and the source of capital is its own capital.

According to the announcement, Flextronics (Zhuhai) Co., Ltd. is engaged in the manufacturing of electronic products. Lingyi Zhizao said that after the acquisition, it will take the acquired plant area as the company’s important production base in Guangdong, Hong Kong and Macao Bay area to undertake the company’s future business development in complete machine assembly and other products. The acquisition can meet the needs of the rapid expansion of the company’s business, conform to the company’s development strategic objectives, and there is no harm to the interests of the company and all shareholders.

In terms of performance, after the Huawei seizure incident, the revenue of Zhuhai Flextronics in 2019 was 2.8538 million yuan, the net profit was 317 million yuan, and the revenue from January to November 2020 was 1.5654 million yuan, the corresponding net profit was 23.8316 million yuan!

Flextronics received extensive attention in the industry last time, or privately seized Huawei equipment and materials. On May 19, 2019, the third day after the U.S. government added Huawei to the so-called “entity list”, Flextronics’s factories around the world immediately stopped all cooperation with Huawei, including stopping production, refusing to deliver goods, and refusing to return the equipment and materials owned by Huawei. On the evening of May 20, Huawei dispatched more than 150 trucks to Zhuhai Park, the main production base of Flextronics in China, and pulled back its own materials. It is said that the truck at the gate of Flextronics in Zhuhai was lined up for 6 kilometers that night.

At present, Flextronics group has 21 factories / offices in China, including a number of intelligent manufacturing factories and innovation and R & D centers, with nearly 40000 employees, providing business support for hundreds of domestic and foreign customers.

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