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Shareate Tools Directors Approve Stake 800-Million-Yuan Purchase in PCB Cutting Tools Maker

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Shareate Tools (SHA:688257) directors approved the purchase of an 80% stake in Xinxiang Huilian Electronic Technology for 800 million yuan, according to a Friday filing with the Shanghai bourse.

The listed company also bought a 70% stake in Winwin Hitech (Thailand) for 28 million yuan as part of the package for the above transaction to resolve competition with Xinxiang Huilian Electronic Technology and expand its overseas footprint.

Xinxiang Huilian Electronic Technology manufactures cutting tools for printed circuit boards.

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