Kunming Sinobright Co., Ltd. cancelled the acquisition of remaining 9.8% stake in Kunming Sinobright Department Store Business Co., Ltd. from management team including Duan Mang.
May 04, 2016
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Kunming Sinobright (Group) Co., Ltd. (SZSE:000560) agreed to acquire remaining 9.8% stake in Kunming Sinobright Department Store Business Co., Ltd. from management team including Duan Mang for CNY 3.1 million on May 5, 2015. After this, Kunming Sinobright Department Store Business will become a wholly-owned subsidiary of Kunming Sinobright (Group). As of December 31, 2014, Kunming Sinobright Department Store Business had total assets amounted to CNY 388.05 million, total liabilities to CNY 325.99 million, net assets to CNY 62.06 million, revenues to CNY 458.23 million and net profit to CNY 7.92 million. On May 5, 2015, the transaction was approved by Board of Directors of Kunming Sinobright (Group).
Kunming Sinobright (Group) Co., Ltd. (SZSE:000560) cancelled the acquisition of remaining 9.8% stake in Kunming Sinobright Department Store Business Co., Ltd. from management team including Duan Mang on May 5, 2016.
5I5J HOLDING GROUP CO., LTD. is a China-based company mainly engaged in the real estate business. The Company operates three main businesses. Real estate brokerage business includes second-hand house brokerage business, new house business and overseas business. The property management business is engaged in the residential leasing and property management. The commercial asset management business is engaged in the management of commercial rental operations such as department stores. The Company is also engaged in commercial retail, hotel travel services, real estate development, property services and other services. The Company conducts its business within the domestic market and to overseas markets.
Kunming Sinobright Co., Ltd. cancelled the acquisition of remaining 9.8% stake in Kunming Sinobright Department Store Business Co., Ltd. from management team including Duan Mang.