On April 20, Sibao technology announced that the company and its wholly-owned subsidiary, Sibao new material, intend to acquire 100.00% of the shares of Tuoli technology in cash, with the transaction consideration of RMB 255 million (before tax).
Tuoli technology, once listed on the new third board, is a national high-tech enterprise specializing in the R & D, production, sales and technical services of functional polymer materials such as silicone, epoxy and UV curing. Its products are divided into silicone rubber, UV curing materials and epoxy resin materials, which are widely used in electronics, 5g communication, power, home appliances, civil aviation, communications Automobile and other fields.
Sibao technology said that with the strong support of Sichuan development leading Capital Management Co., Ltd., the single largest shareholder, the company has formulated a strategic plan to achieve 10 billion revenue in the next decade. Based on the new material industry, the company will form a business segment with silicone materials as the main part and other new materials as the auxiliary, focusing on the development of high-end construction, automobile manufacturing, 5g communication, electronic appliances, photovoltaic new energy, industrial corrosion protection, rail transit, power battery and other subdivisions. This acquisition is the implementation of the company's strategic layout, which is conducive to the long-term development of the company and the improvement of its core competitiveness.
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