Guangdong Advertising Group Co., Ltd. cancelled the acquisition of 19% stake in Shanghai Kaytune Industrial Co., Ltd from Ying Zhenkai.
March 29, 2017
Share
Guangdong Advertising Group Co., Ltd. (SZSE:002400) agreed to acquire 19% stake in Shanghai Kaytune Industrial Co., Ltd from Ying Zhenkai for CNY 61.8 million on March 30, 2016. After the completion of the transaction, Guangdong Advertising Group Co., Ltd will hold 19% stake and Ying Zhenkai will hold 2% stake in Shanghai Kaytune Industrial Co., Ltd. Guangdong Advertising Group Co., Ltd will use self owned funds of CNY 61.8 million to acquire the stake. Shanghai Kaytune Industrial Co., Ltd reported total assets of CNY 187.44 million, total liabilities of CNY 143.31 million, total shareholders' equity of CNY 44.13 million, revenues of CNY 425.72 million, operating profit of CNY 22.91 million and net profit of CNY 18.9 million as of November 30, 2015. The Board of Guangdong Advertising Group Co., Ltd approved the transaction on March 30, 2016.
Guangdong Advertising Group Co., Ltd. (SZSE:002400) cancelled the acquisition of 19% stake in Shanghai Kaytune Industrial Co., Ltd from Ying Zhenkai on March 30, 2017.
Shanghai Kaichun Industrial Co Ltd is a China-based company that mainly provides comprehensive e-commerce services and customer relationship management services. The Company's main services include brand online sales services, brand online operation services and customer relationship management services. Brand online sales service means that the Company purchases products from the brand or its agents by way of buyout, and after authorization by the brand, sells the products directly to customers or to various distributors through online sales on third-party e-commerce platforms channel. Brand online operation service refers to the Company's provides various operation services, including visual design, store operation, warehousing and logistics, marketing planning, event management and customer service. Customer relationship management services refer to the support services provided by the Company before and after sales to achieve the purpose of increasing sales revenue.
SHANGHAI KAYTUNE INDUSTRIAL CO.,LTD 
