Ningbo Meishan Free Trade Port Zone Rongchang Equity Investment Partnership Enterprise (LP) completed the acquisition of additional 13.94% stake in Geoswift Asset Management Limited from Guangbo Group Stock Co., Ltd..
December 12, 2020
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Ningbo Meishan Free Trade Port Zone Rongchang Equity Investment Partnership Enterprise (LP) intent to acquire additional 13.94% stake in Geoswift Asset Management Limited from Guangbo Group Stock Co., Ltd. (SZSE:002103) for CNY 16 million on October 29, 2020. The Ningbo Meishan Free Trade Port Zone Rongchang Equity Investment Partnership Enterprise (LP) will pay 51% of the equity transfer payment which is CNY 8.16 million to Guangbo Group Stock Co., Ltd. before November 15, 2020 and The Ningbo Meishan Free Trade Port Zone Rongchang Equity Investment Partnership Enterprise (LP) will pay the remaining 49% of the equity transfer payment which is CNY 7.84 million to the Guangbo Group Stock Co., Ltd. before December 31, 2020, which is CNY 7.84 million. As of November 10, 2020, Guangbo Group Stock Co., Ltd. received the first 51% equity transfer payment from Ningbo Rongchang, which was CNY 8.2 million and on December 11, 2020, Guangbo Group Stock Co., Ltd. received the second 49% equity transfer payment from Ningbo Rongchang for CNY 7.8 million. After the disposal, Guangbo Group Stock Co., Ltd. holds no stake in Geoswift Asset Management Limited and Ningbo Meishan Free Trade Port Zone Rongchang Equity Investment Partnership Enterprise (LP) owns 23.76% stake. As of December 31, 2019, Geoswift Asset Management Limited recorded total assets of CNY 427.68 million, net assets of CNY 145.97 million, operating revenue of CNY 52.76 million, operating loss of CNY 0.43 million and net profit of CNY 0.12 million. As of June 30, 2020, Geoswift Asset Management Limited recorded total assets of CNY 353.59, net assets of CNY 129.68 million, operating revenue of CNY 33.36 million, operating loss of CNY 26.77 million and net loss of CNY 22.12 million. As of October 29, 2020, the transaction has been approved board of directors of Guangbo Group Stock Co., Ltd.
Ningbo Meishan Free Trade Port Zone Rongchang Equity Investment Partnership Enterprise (LP) completed the acquisition of additional 13.94% stake in Geoswift Asset Management Limited from Guangbo Group Stock Co., Ltd. (SZSE:002103) on December 12, 2020.
GUANGBO GROUP STOCK CO., LTD. is principally engaged in the manufacture of cultural goods and the operation of logistics business. The Company primarily provides photo albums, notebooks, packaging products, office products, paper and pulp, as well as books. The company is also engaged in the Internet and related services, and cross-border e-commerce. The Company distributes its products in domestic market and to overseas markets.
Ningbo Meishan Free Trade Port Zone Rongchang Equity Investment Partnership Enterprise (LP) completed the acquisition of additional 13.94% stake in Geoswift Asset Management Limited from Guangbo Group Stock Co., Ltd..
GUANGBO GROUP STOCK CO., LTD. 
