Uliide: Plans to Acquire 51% Equity of Xinc Communications for No More Than 86 Million Yuan

Reprinted from China Securities Journal · China Securities Network

China Securities Journal China Securities Network News (Reporter Wu Weihong): On the evening of March 13, Uleide announced that the company plans to acquire no more than 86 million yuan to purchase 26,454,800 shares of Zhejiang Xintest Communication Co., Ltd. (hereinafter referred to as Xintest Communication) held by five shareholders, accounting for 51% of Xintest Communication’s total issued shares. If this transaction is successfully completed, Xintest Communication will become a controlling subsidiary of the company and will be included in the company’s consolidated financial statements.

According to the announcement, recently, Uleide signed a “Share Transfer Intent Agreement” with Liu Ping, Xia Zhenyu, Zhai Chaowen, Shenyang, and Yang Ming. The company intends to acquire 51% of Xintest Communication’s equity through cash payment. The announcement shows that Xintest Communication mainly engages in the research, development, production, and sales of optical network construction and maintenance products and electromagnetic environment safety monitoring products. Its products are widely used in fiber optic communication network deployment, maintenance, fault localization, and real-time electromagnetic environment monitoring and safety assessment. It is one of the domestic companies with deep technical accumulation and a comprehensive product line in this field.

Uleide stated that this acquisition will integrate the advantages of both parties, leverage industry chain synergy effects, and help the company further expand its business scope, aligning with the company’s dual-engine development strategy of specialized instruments and high-end instruments. At the same time, relying on the company’s advantages in the supply chain, manufacturing capabilities, and sales channels in the testing and measurement instrument industry, it is expected to further enhance the overall competitiveness of the target company and help it achieve sustained business growth.

The announcement also states that the final overall valuation of the target company and the final transfer price of the target shares will be negotiated based on the valuation confirmed in the assessment report by all parties. This transaction does not constitute a related-party transaction and does not constitute a major asset reorganization as defined by the “Administrative Measures for Major Asset Restructuring of Listed Companies.”

Uleide also mentioned that the “Share Transfer Intent Agreement” signed this time is only a framework and indicative agreement of the cooperation intention of all parties. There may be changes during the implementation and promotion process of the agreement. The final transaction plan will be further negotiated and determined by all parties and will be based on the formal transaction documents signed by all parties.