Rongyu Group Co., Ltd. signed a framework agreement to acquire 52% stake in Guangzhou Delun Medical Investment Co., Ltd. from Gongqingcheng Delun Medical Investment Management Partnership (Limited Partnership) and Zhuhai Happy Century Equity Investment Fund (Limited Partnership) for approximately CNY 250 million.
May 28, 2021
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Rongyu Group Co., Ltd. (SZSE:002622) signed a framework agreement to acquire 51% stake in Guangzhou Delun Medical Investment Co., Ltd. from Gongqingcheng Delun Medical Investment Management Partnership (Limited Partnership) and Zhuhai Happy Century Equity Investment Fund (Limited Partnership) for approximately CNY 250 million on May 27, 2021. As of September 27, 2021, Rongyu Group Co., Ltd entered into agreemnt to acquire 51% stake in Guangzhou Delun Medical Investment Co., Ltd. from Gongqingcheng Delun Medical Investment Management Partnership (Limited Partnership) and Zhuhai Happy Century Equity Investment Fund (Limited Partnership). The consideration will be paid in cash. In a related transaction, Rongyu Group Co., Ltd., signed a framework agreement to acquire 15% stake in Guangzhou Delun Medical Investment Co., Ltd., from Gongqingcheng Delun Medical Investment Management Partnership (Limited Partnership) on May 26, 2021. In December 31, 2021, Guangzhou Delun Medical Investment Co., Ltd. reported a total assets of CNY 247 million, negative total common equity of CNY -51.8 million, EBIT of CNY 306 million and net loss of CNY 12.7 million. The transaction was approved by the Board of Directors of Rongyu Group Co., Ltd. The transaction was approved by shareholders of Gongqingcheng Delun Medical Investment Management Partnership (Limited Partnership) and Zhuhai Happy Century Equity Investment Fund (Limited Partnership). Minmetals Securities Co.,Ltd acted as financial advisor, Jingtian & Gongcheng acted as legal advisor and Zhonghua Certified Public Accountants LLP acted as accountant to Rongyu Group Co., Ltd. in the deal.
Whole Shine Medical Technology Co Ltd is a China-based company mainly engaged in dental medical services and the research, development, production and sales of permanent magnet switches and complete sets of high and low voltage switch equipment. The Company operates through four business segments. Group and Electrical Industry segment, namely the group and traditional switch and switchgear business. The Technology Innovation Business segment is the Companyâs technology software development services. House Rental and Other Business segment, namely the Companyâs house rental and other business. The Oral Medical Business segment includes the Companyâs oral medical services and oral medical product sales business.
Rongyu Group Co., Ltd. signed a framework agreement to acquire 52% stake in Guangzhou Delun Medical Investment Co., Ltd. from Gongqingcheng Delun Medical Investment Management Partnership (Limited Partnership) and Zhuhai Happy Century Equity Investment Fund (Limited Partnership) for approximately CNY 250 million.