Modern Australian
Men's Weekly

.

Yeebo Passes Resolution at SGM on Disposal of 20.02% Equity Interest in Nantong Jianghai

Introduction of Strategic Shareholder Enhances Nantong Jianghai’s Growth Prospect

HONG KONG SAR - Media OutReach Newswire - 17 April 2024 - Yeebo (International Holdings) Limited ("Yeebo" or the "Company", stock code: 259, which together with its subsidiaries is referred to as the "Group") has held a special general meeting ("SGM") to pass resolution for the very substantial disposal of certain shares in Nantong Jianghai (stock code: 002484.SZ).

The resolution was passed by 100% votes. Billion Power Investment Limited, a wholly-owned subsidiary of Yeebo, entered into an agreement to sell 170,130,000 shares in Nantong Jianghai to Zhejiang Construction Investment Group Limited ("Zhejiang Construction Investment Group").

Mr. Douglas Fang, Chairman of Yeebo, said, "We are pleased to have gained the support from shareholders to pass the resolution on the disposal of the shares. As a strategic shareholder of Nantong Jianghai for 19 years, we believe that this is a good and appropriate time for Yeebo to bring on a state-owned strategic shareholder. Such addition to its shareholding structure will uniquely position Nantong Jianghai, offering it the opportunity in combining the best of both the private sector and state-owned enterprises. The transaction will further amplify Nantong Jianghai's growth and development prospect - leveraging on the prospective strategic shareholder's distinctive and competitive advantages, integrating complementary synergies between the two companies, as well as tapping into new market opportunities through vertical expansions."

Nantong Jianghai has long ranked among the best in China's capacitor industry. It commands considerable lead over its peers, especially in the industrial segment. Such change in the shareholding structure will open Nantong Jianghai up to the vast resources and opportunities, that are typically exclusive to the state-owned enterprises.

Zhejiang Construction Investment Group is a wholly owned subsidiary of Zhejiang Communications Investment Group Co., Ltd. ("Zhejiang Communications Investment Group"). Zhejiang Communications Investment Group is backed by the Zhejiang Provincial Government and belongs to the State-owned Assets Supervision and Administration Commission of Zhejiang Province. Zhejiang Communications Investment Group is one of the two major investment platforms of the Zhejiang Province. As at the end of 2023, Zhejiang Communications Investment Group had total assets of RMB931.3 billion and recorded revenue of RMB328.8 billion. It was ranked 310th among Fortune Global 500 in 2023.

Upon the completion of the transaction, Yeebo will retain an 8.81% stake in Nantong Jianghai. Yeebo will stay on as a strategic shareholder, and remains confident on the robust growth prospect of Nantong Jianghai. Moreover, the proceeds generated from the sale of shares in this transaction will not only enhance Yeebo's financial strength but also serve as a catalyst for further business expansion and development.

Hashtag: #Yeebo

The issuer is solely responsible for the content of this announcement.

About Yeebo (International Holdings) Limited

Founded in 1988, Yeebo (International Holdings) Limited is a diversified electronic component company, with a wide range of business interests in flat panel display, OLED and capacitor. Headquartered in Hong Kong, the manufacturing activities largely reside in Guangdong and Jiangsu provinces. With a global sales footprint, Yeebo is able to serve its global customers on a local basis.

Pontoon Boats - The New Must-Have for Luxe Canal Homes

If you are living on a canal in Australia, you are already living the dream. But living near the water without a boat is like owning a horse without...

Perth Airport Transfers: Choosing the Right Service

Touching down in a new city can be exciting, but let's be honest, it can also be a bit stressful. After a long flight, the last thing you want to wo...

How to Save Smart: Cheapest Travel Insurance for Schengen Visa without Cutting Corners

Picture this: you’ve found a last-minute flight to Milan, your hotel booking comes with breakfast and a rooftop view, and your itinerary is ready ...

Keeping Lone and Remote Workers Safe: Employer Duties and Practical Solutions

In Australia, thousands of employees work alone, in remote locations, or in direct contact with the public every day. While these roles are critical...

How Your General Dentist Supports Your Smile Over a Lifetime

A healthy grin is more than just a desirable feature; it reflects overall health, well-being, and self-esteem. Our oral health needs evolve from chi...

A Brighter Smile in Sydney: Expert Cosmetic Dentists and Veneers Solutions

A confident smile can open doors, boost your self-esteem, and leave a lasting impression. In Sydney, more people than ever are turning to cosmetic den...

How To Keep Vase Flowers Fresh Through Australia’s Coldest Months

Winter flowers develop slowly, which gives them stronger structure and longer vase life Heat from indoor environments is the biggest threat to th...

Artificial Intelligence is Powering the Growth of Australian Telehealth Services

Many Australians have traditionally experienced difficulties in accessing timely and quality healthcare, especially those who live in rural or remot...

VR Training in Australia – Customer Service Risk Management

In today’s rapidly evolving workplaces, Australian organisations are turning to immersive learning tools like VR to handle specialised needs such ...

Powering Shepparton’s Businesses: Expert Commercial Electrical Services You Can Count On

When it comes to running a successful business, having reliable, compliant, and efficient electrical systems is non-negotiable. From small retail ou...

Maximise Efficiency: Cleaner Solar Panels for Optimal Performance

Solar panels are a smart investment in energy efficiency, sustainability, and long-term savings—especially here in Cairns, where the tropical sun ...

7 Common Air Conditioner Issues in Melbourne – And How to Fix Them

Image by freepik Living in Melbourne, we all know how unpredictable the weather can be. One moment it’s cold and windy, the next it’s a scorchin...

Powering Palm QLD with Reliable Electrical Solutions

Image by pvproductions on Freepik When it comes to finding a trustworthy electrician Palm QLD locals can count on, the team at East Coast Sparkies s...

The Smart Way to Grow Online: SEO Management Sydney Businesses Can Rely On

If you’re a Sydney-based business owner, you already know the digital space is crowded. But with the right strategy, you don’t need to shout the...

What Your Car Says About You: The Personality Behind the Vehicle

You can tell a lot about someone by the car they drive—or at least, that’s what people think. True Blue Mobile Mechanics reckon the car says a l...

The Confidence Curve: Why Boudoir Photography Is the Empowerment Trend You Didn’t Know You Needed

Boudoir photography has been quietly taking over social feeds, Pinterest boards, and personal milestones—and for good reason. It’s not just abou...

Understanding Level 2 Electricians: Why Sydney Residents Need Licenced Experts for Complex Electrical Work

When it comes to electrical work around the home or business, not all electricians are created equal. In Sydney, particularly when you're dealing wi...

Retirement Anchored in Model Boat Building for Waterford’s Doug Unsold

WATERFORD — When Doug Unsold sees his ship come in, it’s usually one he’s crafted with his own hands. The 67-year-old retiree from Waterford ...