Wuxi Wisdom Ruixin Management Consulting Partnership (Limited Partnership) entered into an agreement to acquire a minority stake in Jiangsu Jetsen Ruichuang Technology Development Co., Ltd. from Beijing Jetsen Technology Co., Ltd. for CNY 20.6 million.
December 23, 2020
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Wuxi Wisdom Ruixin Management Consulting Partnership (Limited Partnership) entered into an agreement to acquire a minority stake in Jiangsu Jetsen Ruichuang Technology Development Co., Ltd. from Beijing Jetsen Technology Co., Ltd. (SZSE:300182) for CNY 20.6 million on December 22, 2020. In a related transaction, Wuxi Wisdom Ruixin Management also entered into a capital contribution agreement and will increase the capital of Jiangsu Ruichuang by CNY 244.4 million. Post the completion of share transfer and capital contribution agreement Wuxi Wisdom will hold 70.63% stake and Beijing Jetsen will continue to hold 29.37% stake. Jiangsu Jetsen Ruichuang reported total assets of CNY 152.6 million and net assets of CNY 62.2 million as of July 31, 2020. The transaction has been unanimously approved by the Board of Beijing Jetsen on December 22, 2020.
Beijing Jetsen Technology Co Ltd is a China-based company mainly engaged in content copyright operation business. The Company also carries out copyright innovation business such as digital marketing, film and television distribution, content export, short drama, and mini-program short-term promotion. The Company's businesses integrate copyright procurement, digital distribution, and content operation. It has accumulated a number of film and television, animation, and program copyright content, and distributes digitally to media channels such as radio and television, Internet new media, and operators, covering digital television (TV), OTT, IPTV, computers, tablets, mobile phones, outdoor streaming media and other full-media terminals. The Company mainly operates its businesses in the domestic market.
Wuxi Wisdom Ruixin Management Consulting Partnership (Limited Partnership) entered into an agreement to acquire a minority stake in Jiangsu Jetsen Ruichuang Technology Development Co., Ltd. from Beijing Jetsen Technology Co., Ltd. for CNY 20.6 million.