Golden Group Corporation (Shen Zhen) Limited, a wholly owned subsidiary of Apex Wealth Enterprises Limited acquired Yuan Da Wei Shi Technology Limited, a People’s Republic of China-based firm specializing in product research and development of surveillance and security technology.
Yuan Da will become a subsidiary of the Golden Group, prompting a new issuance of 200,000 common stocks of Apex Wealth and RMB $1 million cash to Yuan Da’s original shareholders. The net assets of Yuan Da would be a minimum of RMB $1 million by the effective date of the transaction.
As part of the transaction, Jiang Jian Guo, the original shareholder of Yuan Da, will join the management team of Golden
“With Yuan Da’s significant technology capabilities, I believe that the company could experience immediate enhancements in core manufacturing technology and products’ quality,” said Mr. Tu, the CEO of Golden. “This is truly a ‘win-win’ deal for us, for Yuan Da and for our customers.”