Huakai Yibai Technology to Buy At Least 51% of Electrical Component Distributor

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Huakai Yibai Technology (SHE:300592) plans to purchase at least 51% of Shenzhen Wanhe Technology for a valuation of between 700 million yuan and 900 million yuan, according to a Monday after-hours filing with the Shenzhen Stock Exchange.

The Shenzhen-listed company will pay a deposit of 50 million yuan, and will pay another 50 million yuan to buy out dissenting shareholders, according to the filing.

Shenzhen Wanhe Technology is engaged in electrical component distribution and radio frequency technology products and services.

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