Guangzhou S.P.I Design Co., Ltd. agreed to acquire 51% stake in Shanghai IELTS Architectural Planning & Design Co., Ltd from Qian Bingzhen for CNY 11.2 million.
June 28, 2024
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Guangzhou S.P.I Design Co., Ltd. (SZSE:300844) agreed to acquire 51% stake in Shanghai IELTS Architectural Planning & Design Co., Ltd from Qian Bingzhen for CNY 11.2 million on June 27, 2024. A cash consideration of CNY 11.22 million will be paid by Guangzhou S.P.I Design Co., Ltd. As part of consideration, CNY 11.22 million is paid towards common equity of Shanghai IELTS Architectural Planning & Design Co., Ltd. The transaction will be financed through equity investment of CNY 11.22 million.
For the period ending December 31, 2023, Shanghai IELTS Architectural Planning & Design Co., Ltd reported total revenue of CNY 34.18 million, EBIT of CNY 2.73 million and net income of CNY 1.91 million. As of December 31, 2023, Shanghai IELTS Architectural Planning & Design Co., Ltd reported total assets of CNY 29.97 million and total common equity of CNY 0.79 million.
The transaction is subject to approval of offer by acquirer board. The deal has been approved by the board.
Guangzhou S.P.IDesign Co Ltd is a China-based company principally engaged in garden and landscape design business. The Company's main business includes community landscape products, rural cultural tourism products, commercial space products and municipal public products. Rural cultural tourism products is garden landscape designs covering beautiful towns, tourist resorts, characteristic towns, creative parks, scenic resort hotels and others. Commercial space products is garden landscape design including shopping malls, shopping malls, commercial streets, office buildings and other fields. Municipal public garden landscape design mainly provides garden landscape design services for public landscape projects of governments at all levels and institutions, including urban parks, leisure squares, sports venues, community parks, road green belts and parking lots, urban river management and other projects.
GUANGZHOU S.P.I DESIGN CO., LTD. 
