Chongqing Yuanchong Industrial Co., Ltd. cancelled the acquisition of Chongqing Yuanxi Property Management Co., Ltd. from Chongqing Department Store Co.,Ltd..
April 07, 2021
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Chongqing Yuanchong Industrial Co., Ltd. signed the share transfer agreement to acquire Chongqing Yuanxi Property Management Co., Ltd. from Chongqing Department Store Co.,Ltd. (SHSE:600729) for CNY 75.2 million on April 8, 2020. Post acquisition, Chongqing Department Store Co.,Ltd. will no longer hold any shares in Chongqing Yuanxi Property Management. Chongqing Yuanchong Industrial Co., Ltd. will fully have the liabilities of Yuanxi Property, amounting to CNY 927 million. As of April 1, 2020, Chongqing Yuanxi Property Management reported total assets of CNY 929 million and net assets of CNY 2 million. The transaction has been approved by the 92nd session of the 6th directorate of Chongqing Department Store.
Chongqing Yuanchong Industrial Co., Ltd. cancelled the acquisition of Chongqing Yuanxi Property Management Co., Ltd. from Chongqing Department Store Co.,Ltd. (SHSE:600729) on April 8, 2021.
Chongqing Department Store Co Ltd is a China-based company mainly engaged in the department store and supermarket business. The Company's segments include Department Stores Segment, Supermarkets Segment, Electrical Appliances Segment, Automobile Trading Segment and Real Estate and Engineering Segment. The Company's business involves comprehensive department stores, shopping malls, boutique supermarkets, supermarkets, electrical appliance stores, automobile trade brand stores and others. The Company owns trademarks and commercial brands such as âChongqing Department Store', New Century Department Store', 'Shangshe Electrical Appliancesâ, and âShangshe Automobile Tradeâ. The Company operates its business in domestic market.
Chongqing Yuanchong Industrial Co., Ltd. cancelled the acquisition of Chongqing Yuanxi Property Management Co., Ltd. from Chongqing Department Store Co.,Ltd..
CHONGQING DEPARTMENT STORE CO.,LTD. 
