Beijing Electronic Zone Investment and Development Group Co., Ltd. agreed to acquire 22.22% stake in Zhiyu Zhilian Technology Co., Ltd. from Fuzhou Zhiyu Huwei Technology Co., Ltd and Fuzhou Moshu Technology Partnership (Limited Partnership) for CNY 40 million.
November 23, 2020
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Beijing Electronic Zone Investment and Development Group Co., Ltd. (SHSE:600658) agreed to acquire 22.22% stake in Zhiyu Zhilian Technology (Fujian) Co., Ltd. from Fuzhou Zhiyu Huwei Technology Co., Ltd and Fuzhou Moshu Technology Partnership (Limited Partnership) for CNY 40 million on November 23, 2020. Under the terms of transaction, Beijing Electronic Zone Investment and Development will acquire 0.32 million shares from Fuzhou Zhiyu Huwei for CNY 5.8 million and will acquire 1.9 million shares from Fuzhou Moshu Technology Partnership for CNY 34.2 million. Beijing Electronic Zone Investment and Development will acquire 13.91% stake from Fuzhou Zhiyu Huwei Technology and remaining 8.31% stake from Moshu Technology Partnership. In related transaction, Beijing Electronic Zone Investment and Development also plans to increase the capital of Zhiyu Zhilian with CNY 53.334 million to acquire 17.78% equity of Zhiyu Zhilian. Zhiyu Zhilian Technology reported total revenues of CNY 33.5 million, total assets of CNY 30.7 million, net income of CNY 2 million and total equity of CNY 28 million for the year ending December 31, 2019. After the completion of this transaction, the Company will acquire 40% equity of Zhiyu Zhilian with its own funds.
Beijing Electronic Zone High-tech Group Co., Ltd., formerily Beijing Electronic Zone Investment and Development Group Co., Ltd. is a China-based company principally engaged in the real estate related businesses in China. The Company's principal businesses include the sales of real estate properties, the leasing of real estate properties in industrial parks, the property management and the cultural media businesses, among others. The Company mainly operates its businesses in Beijing, Tianjin and Shuozhou.
Beijing Electronic Zone Investment and Development Group Co., Ltd. agreed to acquire 22.22% stake in Zhiyu Zhilian Technology Co., Ltd. from Fuzhou Zhiyu Huwei Technology Co., Ltd and Fuzhou Moshu Technology Partnership (Limited Partnership) for CNY 40 million.