Dowell Service Group Co. Limited has announced an update regarding its acquisition of 20% equity interests in Hunan Jindian. Previously, the company had entered into an agreement on June 23, 2022, where Chongqing Dongyuan, a wholly-owned subsidiary of Dowell, agreed to acquire 80% equity interests in Hunan Jindian for RMB61.7 million. Sichuan Donglan and Mr. Zhang provided a performance guarantee, ensuring that the cumulative growth of Hunan Jindian's total revenue and net profit for the three years ending December 31, 2024, would not be less than 20%. This announcement highlights the non-fulfillment of the performance guarantee related to the transaction.
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