Rentian Technology will acquire a 17% stake in Shida POS for pricing

Rentian Technology announced that on the 9th of this month, the company and the company's controlling shareholder Jing Baifu owned 90% of the Beijing Ang Zhan Real Estate (seller) to enter into a non-legally binding memorandum of understanding regarding the acquisition of Fujian Shida computer equipment by the company 17% equity of the company (target company), the price is to be determined.

Upon completion of the Proposed Acquisition, the Target Company will become an indirect wholly-owned subsidiary of the Company. The Target Company is incorporated in the PRC and is principally engaged in the design, manufacture and distribution of printers, terminals and computers and point-of-sale (POS) electronic products and related services in the PRC under its own “Start” brand.

The Target Group is one of the leading cloud terminal product suppliers in the PRC, and has a stable asset base and a source of revenue and a stable growth in the business operations. The Group can further strengthen the revenue, profit and assets of the Target Group after the completion of the Proposed Acquisition. The financial performance and condition of the Group can be improved.

Accordingly, the Board considers that the Proposed Acquisition will enable the Company to further enhance the Group's revenue base and control of the Target Company.

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