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Q TECH Sells 51.08% Stake in Q Tech India, Expects to Record Gain of RMB833M+
2025-09-18 08:49:46 Q TECH (01478.HK)'s wholly-owned subsidiaries, Q Tech Singapore and Q Tech International, reached an agreement with Indian listed company, Dixon Technologies, to sell an aggregate of 51.08% stake to Dixon by way of share purchase and share subscription, as announced by Q TECH. The total consideration was nearly INR5.53 billion (equivalent to approx. RMB447 million). The share purchase and the share subscription are inter-conditional upon each other and shall be completed simultaneously. Q Tech India is principally engaged in the design, research and development, manufacturing, and sales of camera modules and fingerprint recognition modules. Following the completion of the transaction, the Group will retain 48.92% equity interest in Q Tech India, which will cease to be consolidated as a subsidiary of the Company. The Group expected to record a gain of approx. INR10.3 billion from the transaction, equivalent to approx. RMB833 million, including a gain of approx. INR4.6 billion on disposal of 51.08% equity interest and a gain of approx. INR5.7 billion on revaluation of the remaining 48.92% equity interest at fair value after loss of control. ~ AASTOCKS Financial News Website: www.aastocks.com | |