Hengxin Mobile Business Co., Ltd. completed the acquisition of 45.35% stake in Anhui Saida Science & Technology Co., Ltd. from Zhou Jie and Jia Ming.
April 13, 2015 at 05:00 am
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Hengxin Mobile Business Co., Ltd. (SZSE:300081) agreed to acquire 45.35% stake in Anhui Saida Science & Technology Co., Ltd. from Zhou Jie and Jia Ming for approximately CNY 120 million on December 25, 2014. Zhou Jie will sell 35.3462% stake and Jia Ming will sell 10% stake. Hengxin Mobile Business Co., Ltd. plans to use own funds to acquire some of Anhui Saida Science & Technology Co., Ltd.'s shares. In a related transaction, Hengxin Mobile Business Co., Ltd. will invest CNY 30 million in Anhui Saida Science & Technology Co., Ltd. and will increase its stake to 51%. During the year ended December 31, 2013, Anhui Saida Science & Technology Co., Ltd. had total assets of CNY 23.07 million, total shareholders' equity of CNY 14.52 million, revenue of CNY 13.84 million, operating profit of CNY 1.03 million, and net profit of CNY 1.49 million. Board of Directors of Hengxin Mobile Business Co., Ltd. approved the transaction on December 25, 2014. The transaction does not require shareholder approval.
Hengxin Mobile Business Co., Ltd. (SZSE:300081) completed the acquisition of 45.35% stake in Anhui Saida Science & Technology Co., Ltd. from Zhou Jie and Jia Ming on April 13, 2015.
HENGXIN SHAMBALA CULTURE CO.,LTD., formerly HENGXIN MOBILE BUSINESS CO.,LTD., is a China-based company principally engaged in the industries supported by artistic creativity and visual technology. The Company operates through three main segments. The Computer Graphics (CG) and Visual Reality (VR) Content Production segment is mainly involved in the utilization of the Company's own CG and VR virtual reality content creation capabilities to build an image data asset library.The Children Industry Chain Development and Operation segment is mainly involved in the content production of childrenâs intellectual property (IP), channel distribution, derivative product licensing, and operation of the offline theme parks. The Location Based Entertainment (LBE) segment is mainly engaged in the provision of LBE venue design and manufacturing services to customers. Through its subsidiaries, the Company is also engaged in the mobile phone retail business and operator customized end product business.