SinoDaan Co., Ltd. (SZSE:300635) agreed to acquire Shandong Tongxin Tonghe Architectural Design Consulting Co., Ltd. from Jinan Licheng Holding Group Co., Ltd. for CNY 82.1 million on June 26, 2023. As per payment terms, First tranche of transfer price after the delivery of Shandong Tongxin Tonghe Architectural Design Consulting is completed, SinoDaan shall pay 30% of transfer price before December 31, 2023. Second tranche of transfer price, SinoDaan shall pay 70% of transfer price before December 31, 2024.

Shandong Tongxin Tonghe Architectural Design Consulting has reported total assets of CNY 182.4 million, revenue of CNY 68.6 million, operating profit of CNY 9.9 million and net profit of CNY 7.430725 million on December 31, 2022. The board of SinoDaan has approved the transaction at 16th Meeting of the 4th Directorate and during the 13th Meeting of the 4th Supervisory board held on June 26, 2023. The transaction has still need to approval from shareholders of SinoDaan.

The transaction still needs to be approved by the superior authority/state-owned assets supervision and management department. Zhongzhun Certified Public Accountants Co., Ltd. acted as accountant to SinoDaan Co., Ltd.