News Column

Beijing Jiaxun Feihong Wholly Acquires CASTEL Intelligent

June 16, 2014

BEIJING, June 16, SinoCast -- Beijing Jiaxun Feihong Electrical Co., Ltd. (SZSE: 300213) revealed plans to acquire the 100% stake in CASTEL Intelligent for CNY 208 million through share placement and cash payment. Upon completion, the latter will be wholly owned by the former.

As a top smart application system provider, CASTEL Intelligent focused on offering supervision application system based on Internet of Things technology to government agencies and enterprise customers, harvesting operating revenue of CNY 82.3892 million and net profit of CNY 12.3529 million in 2013.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: Sinocast Computers & Electronics Beat (China)

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters