Global Top E-Commerce Co., Ltd. cancelled the acquisition of remaining 10% stake in Shenzhen Qianhai Patuoxun Network Technology Co., Ltd. from Shenzhen Patuo Investment Management Enterprise (Limited Partnership), Zhangshu Weituo Investment Management Center (LP) and Zhangshu Yongtuo Investment Management Center (LP).
January 11, 2019
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Global Top E-Commerce Co., Ltd. (SZSE:002640) signed an agreement to acquire remaining 10% stake in Shenzhen Qianhai Patuoxun Network Technology Co., Ltd. from Shenzhen Patuo Investment Management Enterprise (Limited Partnership), Zhangshu Weituo Investment Management Center (LP) and Zhangshu Yongtuo Investment Management Center (LP) for CNY 270 million on January 12, 2018. Under the transaction, Shenzhen Patuo Investment Management Enterprise (Limited Partnership), Zhangshu Weituo Investment Management Center (LP) and Zhangshu Yongtuo Investment Management Center (LP) will sale 6.3% for approximately CNY 170 million, 2.4% stake for CNY 65 million and 1.3% stake for CNY 35.2 million respectively. After the transaction, Shenzhen Qianhai Patuoxun Network Technology Co., Ltd. will became a wholly owned subsidiary of Global Top E-Commerce Co., Ltd. The transaction is subject to approval by Global Top E-Commerce shareholders. As on January 12, 2018, transaction has been approved by the Board of Global Top E-Commerce Co., Ltd.
Global Top E-Commerce Co., Ltd. (SZSE:002640) cancelled the acquisition of remaining 10% stake in Shenzhen Qianhai Patuoxun Network Technology Co., Ltd. from Shenzhen Patuo Investment Management Enterprise (Limited Partnership), Zhangshu Weituo Investment Management Center (LP) and Zhangshu Yongtuo Investment Management Center (LP) on January 12, 2019.
Global Top E-Commerce Co.,Ltd., formerly Shanxi Baiyuan Trousers Chain Management Co., Ltd., is a China-based company principally engaged in cross-border e-commerce business. The Company is mainly engaged in cross-border e-commerce exporting business and cross-border e-commerce importing business. The Company distributes apparel and household products, electronic products and other products through its e-commerce distribution platforms. The Company operates its business in domestic and overseas markets, with overseas market as its main market.
Global Top E-Commerce Co., Ltd. cancelled the acquisition of remaining 10% stake in Shenzhen Qianhai Patuoxun Network Technology Co., Ltd. from Shenzhen Patuo Investment Management Enterprise (Limited Partnership), Zhangshu Weituo Investment Management Center (LP) and Zhangshu Yongtuo Investment Management Center (LP).
GLOBAL TOP E-COMMERCE CO., LTD. 
