Xi'an Qujiang Cultural Tourism Co., Ltd. agreed to acquire 45% stake Wuxi Huipao Sports Co., Ltd. for CNY 56.3 million.
April 21, 2021
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Xi'an Qujiang Cultural Tourism Co., Ltd. (SHSE:600706) agreed to acquire 45% stake Wuxi Huipao Sports Co., Ltd. for CNY 56.3 million on April 21, 2021. Xi'an Qujiang Cultural Tourism Co., Ltd. will acquire 5 million shares. The transaction has been reviewed and approved at the second meeting of the ninth board of directors and the second meeting of the ninth board of supervisors, and independent directors have expressed their consent on the matter. Wuxi Huipao Sports reported revenue of CNY 52.8 million, total assets of CNY 50.8 million, net income of CNY 9 million and common equity of CNY 15.1 million for the year ending December 31, 2020.
XiAn Qujiang Cultural Tourism Co Ltd is a China-based company primarily engaged in the operation and management of cultural tourist attractions. The Company conducts its business primarily through seven segments. The Scenic Area Operation and Management segment is engaged in the operation and management of cultural tourist attractions. The Hotel and Catering segment provides hotel and catering services. The Tourism Product Sales segment is engaged in the planning, design and sales of tourism products. The Tourism Services (Travel Agency) segment provides various forms of tourism services, ticket sales, conferences and exhibitions, visa agency and ticket agency. The Landscaping segment provides landscaping services. The Sports Project segment is engaged in event operations, business travel services, online shopping malls and event technical services. The Digital Technology segment provides digital technology services.