Nov 25, 2020 07:33 PM (GMT+8) · EqualOcean
Beidou Xingtong announced that Huaxin antenna, a wholly-owned subsidiary, intends to divest the base station business, that is, it plans to increase the capital of wanjiatong with 100% equity of Guangdong Weitong. After the transaction, Huaxin antenna will hold 26.143% equity of wanjiatong. Beidou Xingtong said that it is difficult for Guangdong Weitong to integrate its existing terminal equipment wholesale and trade business with the company's main business, and the utilization rate of relevant assets is low. Through trading, the company can continue to implement the principle of "focusing on the main business".