Recently, Chungs Lawyers in association with DeHeng Law Offices advised China Fordoo Holdings Limited (“China Fordoo”) on the acquisition of intellectual properties rights and fixed assets in respect of the production of zinc-bromine flow battery (锌溴液流电池) at a consideration of RMB53.60 million (“Acquisition”). The Acquisition involves the entering of (a) the intellectual property rights transfer agreement, pursuant to which, China Fordoo agreed to acquire patents, software copyrights and registered trademarks etc. in relation to zinc-bromine flow battery; and (b) the fixed assets transfer agreement, pursuant to which, China Fordoo agreed to acquire machineries and equipment that forms a zinc-bromine flow battery production line (collectively, the “Agreements”). The transactions contemplated under the Agreements constituted a disclosable transaction under Chapter 14 of the Rules Governing the Listing of Securities on the Stock Exchange of Hong Kong Limited.
China Fordoo is a company listed on the Main Board of The Stock Exchange of Hong Kong Limited (stock code: 2399) and is principally engaged in the design, sourcing, manufacturing and sales of its branded menswear in the PRC.