Aerospace Long March Launch Vehicle Technology Co., Ltd. cancelled the acquisition of remaining 83.33% stake in Beijing Aerospace Jintai Xingce Technology Co., Ltd from China Aerospace Times Electronics CO., LTD..
January 04, 2013 at 11:00 pm EST
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Aerospace Long March Launch Vehicle Technology Co., Ltd. agreed to acquire remaining 83.33% stake in Beijing Aerospace Jintai Xingce Technology Co., Ltd from China Aerospace Times Electronics CO., LTD. (SHSE:600879) in stock on January 5, 2012. China Aerospace Times Electronics CO., LTD. will hold 99.16% stake in Aerospace Long March Launch Vehicle Technology Co., Ltd after the completion of the transaction. Beijing Aerospace Jintai Xingce Technology Co., Ltd. reported audited net assets of CNY 20.17 million as of November 30, 2011. The Board of Directors of China Aerospace Times Electronics CO., LTD unanimously approved the transaction. Beijing Zhongzheng Tiantong Certified Public Accountants Co., Ltd acted as the accountant in the transaction.
Aerospace Long March Launch Vehicle Technology Co., Ltd. cancelled the acquisition of remaining 83.33% stake in Beijing Aerospace Jintai Xingce Technology Co., Ltd from China Aerospace Times Electronics CO., LTD. (SHSE:600879) on January 5, 2013.
China Aerospace Times Electronics Co Ltd is a China-based company mainly engaged in the research, development and production of aerospace products. The Company also manufactures and sells unmanned systems and high-end smart equipment, wire and cable products. Its aerospace electronic products include integrated information systems, electromechanical components, integrated circuits, inertial navigation and other aerospace application products. Its unmanned systems and high-end intelligent equipment products mainly include unmanned system equipment such as unmanned aerial systems and precision guidance systems, as well as high-end intelligent equipment products such as intelligent perception and special motors. This series of products are mainly used in national defense and national economic fields. Wire and cable products include civilian wire and cables and military special cables. The Company mainly operates in domestic markets.
Aerospace Long March Launch Vehicle Technology Co., Ltd. cancelled the acquisition of remaining 83.33% stake in Beijing Aerospace Jintai Xingce Technology Co., Ltd from China Aerospace Times Electronics CO., LTD..
CHINA AEROSPACE TIMES ELECTRONICS CO., LTD. 
