Rui Qi Shares Raised Funds To Acquire Heroic Tools &Nbsp; Capital Involved 26 Million

Rui Qi shares announced today that the Board approved the motion on the acquisition of part of assets and business of Yongkang Hao Mo Tools Co., Ltd. in May 9th, and agreed to use it. Over subscription 26 million yuan of funds to acquire Yongkang Hao Mo Tools Co., Ltd. Assets And business.

The company intends to take "assets acquisition + joint venture operation" as the main body, with the company's subsidiary Jiaxing Hui Nen Tools Co., Ltd. as the main body, and the actual controller before the acquisition of the company and the heroic tool. Buy Assets and business. There are three steps in detail: first, a listed company will make a cash acquisition of the assets and business related to the sanding machine, the industrial vacuum cleaner and the four aluminum products products of the Yongkang Auto Tools Co., Ltd.; after the acquisition, Ying Zhining and the actual controller before the acquisition will stop the original products and business. Two, the spanfer of Jiaxing's sincom's shares; and the 49% of Jiaxing's Sinon's equity held by the company. Three, Jiaxing can operate. The tangible assets acquired by Ruiqi share will be spanferred to Jiaxing Sinon company at its original price and operated by it. The intangible assets acquired by the company will be allowed to be used by Jiaxing Hui in its free way. At the same time, Jiaxing Sinon will employ Mr. Ying Zhining as general manager.

Prior to the acquisition, bold tools have become the most important domestic suppliers to the European and American countries in the product area, and export sales have shown steady growth in recent years. At present, OEM tools are also the main products of the tools and sander and industrial vacuum cleaner. Net profit in 2009 and 2010 was 10 million 194 thousand and 200 yuan and 15 million 307 thousand and 700 yuan respectively.