On Sep. 19th,2017, NEWU planned to purchase the 97.01% of Tsingtoo’s shares and raise the counterpart funds with issuing shares and paying cash.
After this business, NEWU will hold 97.01% of Tsingtoo’s shares. And Tsingtoo will be one of NEWU’s subsidiary companies. NEWU will be the controlling shareholder of Tsingtoo.
Tsingtoo is mainly engaged in the R&D, manufacturing and sales of large screen display & control system and other intelligent equipments. The main products include large screen display & control system, intelligent gun safe, intelligent robot, intelligent ski lift and security cabinet.
After this acquisition, NEWU marches to large screen display & control system, intelligent gun safe, service robot, intelligent ski lift and other sub industries. With the wide sale network, top R&D team and market desiring products, NEWU will improve the profitability and asset quality itself.