Guangzhou Unionpay Network Payment Co., Ltd. cancelled the acquisition of 49% stake in Zhaoqing Easylink Network Co., Ltd. from Shenzhen Xinguodu Technology Co. Ltd..
October 12, 2013 at 05:00 am
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Guangzhou Unionpay Network Payment Co., Ltd. agreed to acquire remaining 49% stake in Zhaoqing Easylink Network Co., Ltd. from Shenzhen Xinguodu Technology Co. Ltd. (SZSE:300130) for CNY 13 million on October 12, 2012. Guangzhou Unionpay Network must pay the company 50% of the transfer price within 10 working days after the signing of the share transfer agreement and will pay the remaining balance within 10 working days after Guangzhou Unionpay Network closing of the transaction. As of September 30, 2012, Zhaoqing Easylink's total assets are CNY 13.32 million, total liabilities are CNY 5.73 million, net asset are CNY 7.59 million, revenue are CNY 9.01 million, operating profit are CNY 1.28 million, and net profit are CNY 1 million. As of December 31, 2011, Zhaoqing Easylink's total assets are CNY 12.67 million, total liabilities are CNY 6.03 million, net asset are CNY 6.64 million, revenue are CNY 10.7 million, operating profit are CNY 1.51 million, and net profit are CNY 1.22 million.
Board of Directors of Guangzhou Unionpay Network approved the transaction on October 12, 2012. Zhaoqing Easylink's shareholder approved the transaction on March 1, 2013. Board of Directors of Shenzhen Xinguodu Technology Co. Ltd. approved the transaction on March 8, 2013. The transaction is subject to approval of Board of Directors of Zhaoqing Easylink.
Guangzhou Unionpay Network Payment Co., Ltd. cancelled the acquisition of 49% stake in Zhaoqing Easylink Network Co., Ltd. from Shenzhen Xinguodu Technology Co. Ltd. (SZSE:300130) on October 12, 2013.
XGD INC., formerly Nexgo Inc., is a China-based company principally engaged in the research, design, development, manufacture, distribution and leasing of financial point of sales (POS) terminal software and hardware products. The Company is also engaged in the provision of bank card electronic payment technology services, biometrics, credit reporting and large data analysis and processing services. The Companyâs products include financial POS terminals, readers, biometric products and others. It distributes its products within domestic market and to overseas markets.