On March 22, Huaying Technology (Group) Co., Ltd. (hereinafter referred to as “the companyâ€) announced that the third meeting of the sixth board of directors of the company reviewed and approved the “Proposal on the Sale of the Rights of the Holding Subsidiariesâ€. On March 14, 2013, the company signed the “Shenzhen Huaying Display Technology Co., Ltd. Equity Transfer Agreement†(hereinafter referred to as “Equity Transfer Agreementâ€) with the parties to the transaction.
According to the "Equity Transfer Agreement", the transferee (ie Shenzhen Huaxing Optoelectronic Technology Co., Ltd., hereinafter referred to as "Huaxing Optoelectronics") shall be RMB 33.45 million within 5 working days from the date of signing the agreement (excluding the signing date). (10% of the total transfer price) is paid to the company's designated account. On March 21, 2013, the company received the first payment of RMB 33.45 million from Huaxing Optoelectronics.
According to the "Equity Transfer Agreement", the transferee (ie Shenzhen Huaxing Optoelectronic Technology Co., Ltd., hereinafter referred to as "Huaxing Optoelectronics") shall be RMB 33.45 million within 5 working days from the date of signing the agreement (excluding the signing date). (10% of the total transfer price) is paid to the company's designated account. On March 21, 2013, the company received the first payment of RMB 33.45 million from Huaxing Optoelectronics.
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