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China Aerospace Times Electronics Unit Amends Asset Swap Deal

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China Aerospace Times Electronics' (SHA:600879) unit, Beijing Aerospace Times Optoelectronics Technology, made changes to its asset swap agreement with Xi'an Microelectronics Technology Institute's Xi'an Taiyi Electronics, according to a Shanghai bourse filing on Wednesday.

The parties agreed to cancel plans to exchange the assets of the cryptography and information security business of China Aerospace Times' subsidiary, Aerospace Changzheng Rocket Technology, for the Beijing Telemetry Technology Institute's technological upgrading assets.

The parties were not able to meet all the transactions involved in the agreement within the prescribed timeframe.

Beijing Aerospace Times' agreement to swap its 100% equity in Beijing Aerospace Xinghua Technology for 58% of Xi'an Taiyi Electronics still stands, as well as Shanghai Aerospace Electronics' deal to swap its deep space exploration business' assets for Shanghai Scientific Instrument Factory's technological upgrading assets.

The aerospace company's shares slipped 1% during the midday trade.

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