China Leon to fully acquire target company for RMB50m

China Leon Inspection Holding Limited announced a connected transaction to acquire the remaining 45% equity interests in the Target Company. According to the announcement, the company will acquire the remaining equity from the Vendor for a total consideration of RMB50 million, approximately HKD53.5 million. Upon completion, the Target Company will become an indirect wholly-owned subsidiary of China Leon. The Target Company holds 51% equity in Yulin Lihong Energy Testing and has two branch offices, primarily engaged in inspection services. The highest applicable percentage ratio of the transaction exceeds 0.1% but is less than 5%. The consideration will be funded via internal resources and/or borrowings.