Hunan Valin Cable Co., Ltd. has declared that it has entered into an Intentional Agreement (Note: While 'intentional agreement' is a direct translation, in formal business contexts, it's often referred to as a 'Letter of Intent' or 'Memorandum of Understanding'. However, we'll retain 'Intentional Agreement' here for consistency with the original text) with Wu Genhong and Jiang Yuan. The objective is to acquire a 70% stake in Anhui Sanzhu Intelligent Technology Co., Ltd. The acquisition will be executed through a combination of cash payment and the issuance of convertible corporate bonds, with the total transfer price set at 183 million yuan.
Upon the successful completion of this transaction, Valin Cable will emerge as the majority shareholder, holding a 70% stake in Sanzhu Intelligent. It's important to note, however, that this transaction is contingent upon the completion of due diligence, audit, and evaluation processes. Additionally, it must undergo the necessary approval procedures. The final terms of the transaction will be solidified in the formal agreement.
