Hangzhou Anysoft Information Technology Co., Ltd. agreed to acquire 51% stake in Zhengzhou Mairuideng Network Technology Co., Ltd. from Gongqingcheng Kerui Investment Management Partnership Enterprise for CNY 68.9 million.
September 12, 2017
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Hangzhou Anysoft Information Technology Co., Ltd. (SZSE:300571) agreed to acquire 51% stake in Zhengzhou Mairuideng Network Technology Co., Ltd. from Gongqingcheng Kerui Investment Management Partnership Enterprise for CNY 68.9 million on September 11, 2017. The consideration will be paid in cash and Hangzhou Anysoft Information Technology Co., Ltd. will use its own funds to finance the transaction. Within 10 days from the date of transfer of equity, Hangzhou Anysoft Information Technology Co., Ltd. will transfer to 50% of the consideration, i.e. CNY 34.4 million. Within 12 months since the date of entering into force of the present agreement and 20 working days since the issuance of the corresponding audit documents, Hangzhou Anysoft Information Technology Co., Ltd. will produce another 30% of the compensation, i.e. CNY 20.66 million. Hangzhou Anysoft Information Technology Co., Ltd. shall pay 20% of the consideration, i.e. CNY 13.77 million, within 20 days since the date of publication of the corresponding audit documents for the third performance commitment period of 12 months if there is no need to carry out any compensation in accordance with the agreed deduction of the subsequent transfer of the underlying equity consideration. At the same time, Hangzhou Anysoft Information Technology Co., Ltd. will also take care of a making a capital contribution into the registered capital of Zhengzhou Mairuideng Network Technology Co., Ltd. The second session of the 6th meeting of the Board of Directors of Hangzhou Anysoft Information Technology Co., Ltd. examined and approved the transaction.
Hangzhou Anysoft Information Technology Co Ltd is a company mainly engaged in providing digital reading related products and services. The Company operates four businesses. The mobile reading business provides reading services to users through cooperating with copyright parties and using both its own and third-party reading platforms. The content covers online literature, published books, magazines, newspapers, radio broadcasts and training lectures. The Company operates smart family business through its subsidiary, and is engaged in research and development, production and sales of broadband network terminal equipment, communication network equipment and mobile communication network optimization equipment. The information business provides users with professional magazines, industry journals and other reading content through mobile newspapers and We Media pushes. The other value-added telecommunications business provides music and videos through the Company's mobile reading platforms.