Shareate Tools (SHA:688257) plans to acquire 70% of Xinxiang Huilian Electronic Technology for up to 700 million yuan, according to a Shanghai bourse filing on Thursday.
Huilian Electronic manufactures printed circuit board cutting (PCB) tools and precision components.
The company also plans to acquire 70% of Winwinhitech (Thailand) from Zhang Zhe for 28 million yuan.
The Chinese drilling tools manufacturer's shares jumped over 4% at the close of the trade.
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