Shanghai Fujia Industrial Development Co., Ltd. intends to sign an equity transfer agreement to acquire Forte Asset Management Co., Ltd. from Shanghai Forte Investment Management Co., Ltd. for CNY 31 million.
January 11, 2019
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Shanghai Fujia Industrial Development Co., Ltd. intends to sign an equity transfer agreement to acquire Forte (Shanghai) Asset Management Co., Ltd. from Shanghai Forte Investment Management Co., Ltd. for CNY 31 million on January 12, 2019. Payment will be done in one single installment within 90 days since delivery of underlying equity. For the year ending December 31, 2018, Forte (Shanghai) Asset Management Co., Ltd. reported operating revenues of CNY 176.5 million and net profit of CNY 12 million. As of Forte (Shanghai) Asset Management Co., Ltd. reported total assets of CNY 172.8 million and owners’ equity of CNY 30.9 million. Shanghai Yuyuan Tourist Mart Co., Ltd. (SHSE:600655), parent of Shanghai Fujia Industrial Development Co., Ltd. intends to use CNY 31 million for the deal. The transaction was approved by the 31st meeting of the 9th Directorate of Shanghai Yuyuan Tourist Mart Co., Ltd. As of January 29, 2019, shareholders of Shanghai Yuyuan Tourist Mart has approved the transaction.
Shanghai Yuyuan Tourist Mart Group Co Ltd is a China-based company mainly engaged in the jewelry and fashion business. The Company operates 11 segments. Jewelry and Fashion segment is engaged in the sales of gold, platinum, diamond-set, jade, jade, watches and other jewelries. Property Development and Sales segment is engaged in the development and sales of commercial properties. The Company also operates Catering Management and Service segment, Food, Department Store and Handicraft Sales segment, Medicine & Health and Others segment, Cosmetics segment, Fashion Watch segment, Commercial Operation Management and Leasing segment, Resort segment, Other Operations and Management Services segment and Wine Industry segment.
Shanghai Fujia Industrial Development Co., Ltd. intends to sign an equity transfer agreement to acquire Forte Asset Management Co., Ltd. from Shanghai Forte Investment Management Co., Ltd. for CNY 31 million.