[Cable Net News] Nanyang Tianrongxin Technology Group Co., Ltd. (abbreviation: Nanyang Stock Securities Code: 002212) recently announced that the listed company holds 100% equity of Guangzhou Nanyang Cable Co., Ltd. and Nanyang Cable (Tianjin) Co., Ltd. 100% equity, 95% equity of Guangdong Nanyang Cable Co., Ltd. and 100% equity of Guangzhou Nanyang New Energy Co., Ltd. (hereinafter referred to as “this transaction” or “this major asset sale”). As of September 8, 2020, the relevant subject matter of this transaction has been delivered.
Nanyang shares 2.1 billion yuan to divest the cable business related subject matter has been completed and transferred.
At present, Nanyang has signed an agreement with its controlling shareholder Zheng Zhongnan and its related parties for the transfer of equity and liabilities related to the cable business at a price of 2.105 billion yuan in cash. According to the company announcement, Nanyang has received a total of 1.074 billion yuan in payment for the divestiture, accounting for the transaction consideration. 51% of the relevant subject matter has been completed.
In the future, Nanyang will no longer be engaged in the wire and cable business, and will fully focus on the network security field. It is expected that under the background of the continuous improvement of the network security industry’s prosperity, it is expected to achieve both the increase in the network security field revenue scale and the net profit scale, optimization and integration Improve the profitability of listed companies and enhance their market competitiveness in the cyber security industry.