Beijing Join-Cheer Software Co., Ltd. completed the acquisition of Beijing Chinasys Technology Co., Ltd. from a group of sellers.
Beijing Chinasys Technology reported total assets of CNY 248.46 million, owner's equity of CNY 147.39 million, revenues of CNY 148.46 million, operating profit of CNY 17.33 million and net profit of CNY 20.53 million in 2014. The transaction is subject to approval of shareholders of Beijing Join-Cheer Software, approval of the mergers and acquisitions committee of China Securities Regulatory Commission and another approval from the Directorate. The shareholders of Beijing Chinasys Technology approved the transaction on April 8, 2015. The Board of Directors of Beijing Join-Cheer Software Co., Ltd. approved the transaction on April 10, 2015. On May 4, 2015, Beijing Join-Cheer Software Co., Ltd Board of Directors approved the transaction. On May 21, 2015, Beijing Join-Cheer's shareholders approved the transaction.
As of July 3, 2015, Beijing Join-Cheer Software revised the number of shares to be issued as consideration to 15.99 million and the issue price to CNY 31.9 per share. The deal was unconditionally approved by China Securities Regulatory Commission on September 18, 2015. As of November 3, 2015, CSRC approved the transaction. Huatai United Securities Co., Ltd acted as the independent financial advisor to Beijing Join-Cheer Software Co., Ltd and V&T Law Firm acted as the legal advisor to Beijing Join-Cheer Software Co., Ltd. BDO China Shu Lun Pan Certified Public Accountants LLP acted as the auditor to Beijing Join-Cheer Software Co., Ltd.
Beijing Join-Cheer Software Co., Ltd. (SZSE:002279) completed the acquisition of Beijing Chinasys Technology Co., Ltd. from a group of sellers on November 16, 2015.