Zitong Financial App NewsletterDetai New Energy Group (00559)According to the announcement, on September 29th, 2021, the company and the seller Yan Li executed the buying and selling instrument and purchased 1.5 million shares from the seller at a consideration of about HK $42.24 million.Hong Kong Aerospace Science and TechnologyThe consideration for each of the acquired shares is about HK $28.16 (a discount of about 12% to the closing price of HK $32 per share on the date of the acquisition), which is equivalent to 0.5% of the issued share capital of Hong Kong Aerospace Technology. Together with the shares acquired by the Company under these previous acquisitions, the Company is interested in 3.87 million Hong Kong Aerospace Technology shares, representing 1.29% of the issued share capital of Hong Kong Aerospace Technology.

It is reported that the Hong Kong Aerospace Technology Group is mainly engaged in electronic manufacturing services (EMS) business, including the assembly and production of printed circuit boards assembly, and fully assembled electronic products to provide customers with design upgrades and certification, technical advice and engineering solutions, raw material selection and procurement, quality control, logistics and delivery and after-sales service. And the aerospace business under the current Golden Bauhinia constellation project, including smart city satellite big data application and solution; satellite measurement and control; satellite manufacturing; and satellite launch.

The company has been willing to seek investment opportunities that will bring returns to its shareholders, including but not limited to investing in other publicly listed stocks of companies listed on the Stock Exchange and other stock exchanges, the announcement said. The directors consider that the acquisition is on normal commercial terms, is fair and reasonable and is in the interests of the company and shareholders as a whole.