LONGCHEER (ASX: 09611) has announced the successful completion of its acquisition of a 60% equity stake in each of two target companies, Kejuncheng Precision and Jiya Metal.
The conditions precedent outlined in the equity transfer agreement have been satisfied. The transfer of equity in the target companies and the corresponding amendments to their articles of association have been duly registered with the relevant local market regulatory authorities.
Consequently, the acquisition was formally completed on June 12, 2026, which is designated as the completion date.
Following the acquisition, the company, Mr. Wu Yutao, Mr. Xiong Daoan, and an employee incentive platform now directly hold 60%, 18.8%, 17.2%, and 4.0% of the equity in each target company, respectively.
As of the date of this announcement, each target company has become a non-wholly owned subsidiary of LONGCHEER, and their financial results are now consolidated into the group's financial statements.
Kejuncheng Precision is a limited liability company established in China on March 24, 2021. It is a high-tech enterprise specializing in high-precision metal etching technology, primarily engaged in providing precision metal processing solutions for the consumer electronics industry and other sectors. Its services include metal etching, laser cutting, and stamping.
Its main business involves the etching and manufacturing of VC (vapor chamber) heat spreaders and precision metal components, which are primarily used in heat dissipation modules and related structural parts for mobile phones, tablets, and other consumer electronic products.
Jiya Metal is a limited liability company established in China on March 16, 2017. It is also principally engaged in providing metal processing solutions.
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