CSG Smart Science, 7/13/18
Shanghai-based industrial automation firm CSG Smart Science and Technology (300222.SZ) recently announced that Huang Mingsong, the company's controlling shareholder and actual controlling party, signed a share transfer agreement with Suqian Jingdong Xinsheng Enterprise Management, an affiliate of Chinese B2C e-commerce platform JD.com (Nasdaq: JD), on July 12, 2018. Under the agreement, Huang will transfer 36,491,023 unrestricted CSG Smart Science shares to Suqian Jingdong Xinsheng Enterprise Management, representing a 5.00% equity stake in CSG Smart Science. The total transaction value is set at RMB 617.8 mln.
CSG Smart Science also said that it has signed a strategic partnership agreement with JD.com subsidiary Beijing Jingdong Century Trade, under which the parties will explore opportunities for using joint ventures or other business formats to cooperate on smart manufacturing and smart logistics system solutions and consumer product industry Internet of Things and AI big data analysis applications.
CSG Smart Science will also serve as a supplier to JD.com under an ODM/OEM model to support development of new JD.com robot products and upgrades to existing robot product lines through custom development and production services.