QA plans to change to a cash method to purchase 99% equity of Yigao Optoelectronics
QA announced that it has decided to terminate the acquisition of 99% equity in Anhui Yigao Optoelectronic Technology Co., Ltd. through the issuance of shares and will instead acquire it in cash. The company has signed a cash acquisition intention agreement with 11 major shareholders of Yigao Optoelectronic, but the specific transaction plan and core terms still need further negotiation and the signing of a formal agreement, and there is uncertainty in implementation
According to the announcement from Qin'an Co., Ltd. (603758.SH), the company's board of directors has reviewed and approved the proposal to terminate the issuance of shares and cash payment for asset acquisition and fundraising, and to continue negotiations for cash-based asset purchases. It has agreed to terminate the issuance of shares and cash payment for 99% equity of Anhui Yigao Optoelectronic Technology Co., Ltd., and to raise supporting funds, while negotiating separately for cash acquisition of the aforementioned assets.
The announcement indicates that the company intends to terminate the original plan to issue shares and pay cash for 99% equity of Anhui Yigao Optoelectronic Technology Co., Ltd. (referred to as "Yigao Optoelectronic") and to raise supporting funds, and will instead acquire Yigao Optoelectronic's equity in cash. The company has signed a cash acquisition intention agreement with 11 major shareholders of Yigao Optoelectronic. The signed agreement is only an intention agreement, and the specific transaction plan, pricing, payment arrangements, performance commitments, and compensation, among other core terms, will still need to be based on the final signed formal agreement. This transaction requires further negotiation among the parties involved and the completion of necessary internal decision-making procedures (including but not limited to board and shareholder meetings) before it can be implemented, and there remains uncertainty regarding whether it can be smoothly advanced and implemented
