BOMIN ELECTRONICS: Termination of acquisition of equity in Meizhou Benchuang Electronics Co., Ltd
BOMIN ELECTRONICS announced that the equity acquisition framework agreement signed with the shareholder Xiong Dongmei of Meizhou Benchuang Electronics Co., Ltd. has been terminated. The two parties failed to reach a consensus on the main transaction terms and could not sign a formal equity transfer agreement. The company will recover the paid deposit of 28 million yuan and interest, and will release the pledge on 40% of the equity of the target company. The termination of the acquisition will not adversely affect the company's normal production operations and financial condition
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