Chengdu Hongqi Chain Co.,Ltd. agreed to acquire 20% stake in Sichuan Jibaixing Food Co., Ltd. from Huang Wanjiong, Zhang Yan and Zhang Rui for CNY 6 million.
January 10, 2020
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Chengdu Hongqi Chain Co.,Ltd. (SZSE:002697) agreed to acquire 20% stake in Sichuan Jibaixing Food Co., Ltd. from Huang Wanjiong, Zhang Yan and Zhang Rui for CNY 6 million on January 9, 2020. Share transfer price and payment method as all parties agreed for the transfer price of CNY 8 million to be paid within 5 working days after the completion of the equity delivery. CNY 6 million of which will serve as Chengdu Hongqi Chain's paid-in contribution for holding 20% stake in Sichuan Jibaixing , the remaining CNY 2 million will serve as Sichuan Jibaixing's capital reserve. Chengdu Hongqi Chain will use its own funds to invest CNY 8 million, accounting for 20% of Sichuan Jibaixing's total shares, of which, CNY 6 million will serve as the investment for holding shares in Sichuan Jibaixing, CNY 2 million will be recorded as capital reserve. Pre deal, Huang Wanjiong, Zhang Yan and Zhang Rui held 48.5%, 46.5% and 5% respectively. Post deal, Huang Wanjiong, Zhang Yan and Zhang Rui will hold 38.8%, 37.2% and 5% respectively. The 8th session of Chengdu Hongqi Chain's 4th directorate held on January 9, 2020 approved the deal.
Chengdu Hongqi Chain Co., Ltd. is a China-based company principally engaged in the operation of regular chain supermarkets. The Company mainly provides daily-used products, cigarettes, wines, food, grains, oil, beverages, clothing, shoes, hats and textiles and others. The Company also provides autobus card recharging service, ticket consignment service, payment of telecommunication and natural gas fee, as well as electronic payment service. The Company conducts its businesses mainly in Sichuan Province, China.
Chengdu Hongqi Chain Co.,Ltd. agreed to acquire 20% stake in Sichuan Jibaixing Food Co., Ltd. from Huang Wanjiong, Zhang Yan and Zhang Rui for CNY 6 million.