# Topband to acquire remaining 28.46% stake in Yancong Automation for 165M yuan

Topband Co., Ltd. announced it will use 165 million yuan in cash to acquire the remaining 28.46% equity of Yancong Automation, making it a wholly-owned subsidiary.

- Type: Acquisition
- Announced: 2024-05-29
- Where: China
- Value: $22.8M (165.0M CNY)
- Status: announced
- Products: automation control systems
- Sectors: [Industrial Machinery](https://endata.com/sectors/industrial-machinery.md), [Automation and Robotics](https://endata.com/sectors/automation-robotics.md)

## Companies

- [Topband](https://endata.com/companies/58228.md) (acquirer)
- [Yancong Automation](https://endata.com/companies/77693.md) (target)
- [R&D Automation](https://endata.com/companies/78721.md) (target)

## Sources

- [stock.10jqka.com.cn](https://stock.10jqka.com.cn/20240529/c658321584.shtml), 2024-05-29: "拓邦股份公告，公司决定使用现金1.65亿元收购研控自动化28.46%的股权，交易完成后将全资控股研控自动化。"
- [hansmat.com](https://www.hansmat.com/news/after-giving-up-the-spin-off-and-listing-topb-79231233.html), 2024-07-21: "After the completion of this transaction, Topband will hold 100% of the equity of R&C Automation."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.