VITAL INNO plans to acquire no less than 9% equity in Shanghai Shenqi Technology
VITAL INNO plans to acquire no less than 9% of the equity of Shanghai Shenqi Technology Co., Ltd. The company has signed a non-binding memorandum of understanding with the seller Huang Dingjiang, and the transaction is expected to take place on December 27, 2024. The target company focuses on providing products and services using artificial intelligence technology, with major clients including several subsidiaries of China State Grid Corporation
According to the Zhitong Finance APP, VITAL INNO (06133) announced that on December 27, 2024, the company entered into a non-binding memorandum of understanding with Huang Dingjiang (the seller) regarding the potential acquisition of certain equity interests in Shanghai Shenqi Technology Co., Ltd. According to this, the company proposes to acquire no less than 9% of the total equity of the target company, while the seller proposes to sell.
It is reported that the main business of the target company is to provide products and services using artificial intelligence technology, including hardware and software related to the daily management and operation of electronic supply networks. The target company uses technologies such as automated robotics and telemetry to provide services. The target company is located in Shanghai, China. The main clients of the target company include several subsidiaries of the State Grid Corporation of China. Currently, the target company's clients include subsidiaries of the State Grid Corporation located in Shanghai, Xinjing, and other areas
