Cui Zhen entered into an agreement to acquire 8.33% stake in Beijing Huiying Tianxia Network Technology Co., Ltd. from Shenzhen Mindata Holding Co., Ltd. for CNY 71 million.
March 29, 2018
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Cui Zhen entered into an agreement to acquire 8.33% stake in Beijing Huiying Tianxia Network Technology Co., Ltd. from Shenzhen Mindata Holding Co., Ltd. (SZSE:002137) for CNY 71 million on March 28, 2018. For the year ended December 31, 2017, Beijing Huiying Tianxia Network Technology Co., Ltd. reported revenue of CNY 37.4 million, operating loss of CNY 304.3 million and net loss of CNY 314.2 million. As of December 31, 2017, Beijing Huiying Tianxia Network Technology Co., Ltd. reported total assets of CNY 67.5 million and net liabilities of CNY 174.1 million. The transaction has been approved in the 7th Meeting of the 5th Directorate of Shenzhen Mindata Holding Co., Ltd. and does not need its shareholders’ approval. On March 28, 2018, Cui Zhen settled the first tranche of payment of CNY 66 million and on April 3, 2018, Cui Zhen paid for the remaining payment of CNY 5 million.
Shenzhen Sea Star Technology Co Ltd (formerly Shen Zhen Mindata Holding Co Ltd) is a China-based company mainly engaged in smart hardware and smart marketing business. The Company operates through two business segments. The Smart Hardware Business segment is mainly engaged in smart terminal product business and smart hardware manufacturing business. The smart terminal product business mainly produces smart terminal products such as light-emitting diode (LED) smart lighting and smart locks. The smart hardware manufacturing business is mainly to provide services such as engineering testing, manufacturing, and supply chain management of industrial-grade products for brand owners. The Smart Marketing Business segment is engaged in Internet media full case marketing services, creative strategy services, Internet integrated marketing services, social media marketing business services, and advertising production services.
Cui Zhen entered into an agreement to acquire 8.33% stake in Beijing Huiying Tianxia Network Technology Co., Ltd. from Shenzhen Mindata Holding Co., Ltd. for CNY 71 million.