Tecsun acquires 90% equity of School Guardian for RMB3.9529m

Tecsun (002908.SZ) announced that the company’s nineteenth meeting of the second board of directors held on May 13, 2020 agreed that the company’s wholly-owned subsidiary Tecsun Zhimeng acquire Liu Zhining’s 90% stake in School Guardian with 3.9529 million yuan.

Tecsun (002908.SZ) announced that the company’s nineteenth meeting of the second board of directors held on May 13, 2020 agreed that the company’s wholly-owned subsidiary Tecsun Zhimeng acquire Liu Zhining’s 90% stake in School Guardian with 3.9529 million yuan.

The purpose of this transaction is mainly to further promote the upgrade of the real-name authentication management business system based on identity recognition of Tecsun Zhimeng, from personal ID card recognition to the integrated management of multiple elements based on AI technology for people, cards, objects, vehicles, etc., as well as to implement comprehensive IOT services in multiple application scenarios.

The capital for the acquisition of 90% of the equity of School Guard is the own funds of Tecsun Zhimeng, which will not have a significant impact on the company’s financial situation. After completing the acquisition, School Guard will become Tecsun’s sub-subsidiary, which will help promote the development of the company’s related businesses and will have a positive impact on the company’s long-term development.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/05/24/tecsun-acquires-90-equity-of-school-guardian-for-rmb3-9529m/.

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