Sunsea Telecommunications (002313), a maker of telecommunications equipment, plans to acquire 51 percent stakes in Zhenzhou Henglian Telecoms Technology and Wuhan Guangfu Telecoms for 45.90 million yuan and 10.97 million yuan, respectively, reports yicai.com, citing a company filing.
Zhenzhou Henglian, which has a registered capital of 10 million yuan, is mainly engaged in the design and construction of telecoms and computer networking projects. It had net assets of 40.33 million yuan as of end June 2011.
The target company recorded net profit of 4.42 million yuan on revenue of 20.58 million yuan for the first six months of 2011.
Wuhan Guangfu has a registered capital of 5.5 million yuan, and it mainly designs telecoms and computer network integrated systems.
Through the end of June, the target company had total assets of 38.91 million yuan and net assets of 16.78 million yuan. It earned net profit of 1.25 million yuan on revenue of 10.94 million for the first six months of 2011.