Ionix Technology, Inc. ( ticker symbol: IINX, hereinafter referred to as IINX or the company) announced today that the managements from IINX and from Legend Ecological Aquaculture (Changhai) Co. Ltd (hereafter referred to as Legend) has reached an agreement on the acquisition of 51% equity of the latter and signed a cooperation agreement, then will initiate the relevant procedures to enter the acquisition process.
Legend mainly engages in ocean pasture, recreational fishing tourism, aquatic products processing, logistics and ecological aquaculture, with annual turnover of about 18 million U. S. dollars currently. Legend takes the lead in putting forward the concept of ocean carbon neutrality and is committed to carbon sink fisheries by implementing ecological farming in marine pastures. Carbon sink fishery, commonly known as "non-feed fishery", is to purify the marine aquaculture environment and improve the efficiency of aquaculture through algae farming, shellfish farming and artificial reefs, to conserve and restore blue carbon ecosystems in coastal zone, moreover, to mitigate the impact on ecosystem from climate change. Carbon sink fishery help attain the development of marine space resources in three dimension, as well as realized the coordinated growth of economic benefits, social benefits and environmental benefits.
At the signing ceremony, Li Cheng, CEO of IINX, said: “after several months of investigation and negotiation, the results suggest that Legend’s products, technologies and services have gained wide recognition and shares in the market. With high technological content and forward-looking insight, Legend’s business space will grow geometrically in the very near future and surely will generate the large-scale economic effect and bring profit to IINX, which is in line with the company's need for rapid development. Legend's concept in carbon neutralization is up to IINX's concept of developing towards energy conservation, environmental protection and clean energy, and the cooperation will expand the business through the growth point, which leads to a brilliant future for both parties .”
Yan Yang, the president of IINX, also attended the signing ceremony and negotiated with Legend’s executives on the details of the acquisition. The follow up will be updated through the official website in a timely manner, stay tuned for the further information.
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