A-Living Smart City Services Co., Ltd. entered into an agreement to acquire 23% stake in ZHS beautiful urban and rural areas sanitation group Co., Ltd. from Zhongshan Huihang Environmental Services Co., Ltd.Cao Hu, Cheng Dongyun, Huili Capital Investment Co., Ltd.
February 25, 2021
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A-Living Smart City Services Co., Ltd. (SEHK:3319) entered into an agreement to acquire 23% stake in ZHS beautiful urban and rural areas sanitation group Co., Ltd. from Zhongshan Huihang Environmental Services Co., Ltd.Cao Hu, Cheng Dongyun, Huili Capital Investment Co., Ltd. on September 18, 2020. A-Living also agreed to subscribe for the additional shares issued by ZH Sanitation. The total consideration for equity transfer and additional shares subscription was CNY 300 million. Upon completion A-Living will hold an aggregate of 30% equity interest in ZH Sanitation. The consideration for the ZH Sanitation Acquisition was determined upon negotiation between the parties with reference to the guaranteed net profit after taxation of ZH Sanitation for the year
2020 in the amount of CNY80 million. If the audited net profit after taxation is less than CNY80 million, the consideration will be subject to certain refund mechanism set out in ZH Sanitation Agreement.
A Living Smart City Services Co Ltd, formerly A-Living Services Co Ltd, is an investment holding company mainly engaged in the provision of property management services. The services mainly include property management services, value-added services for owners and extended value-added services. Property management services include security, cleaning, greening and gardening, repair and maintenance services. Value-added services for owners mainly include life and comprehensive services, community resources, home improvement and home delivery services, and value-added services for non-residential businesses. Extended value-added services include real estate management services provided to developers. The Company operates under the two brands, Agile Property Management and Greenland Property Services.
A-Living Smart City Services Co., Ltd. entered into an agreement to acquire 23% stake in ZHS beautiful urban and rural areas sanitation group Co., Ltd. from Zhongshan Huihang Environmental Services Co., Ltd.Cao Hu, Cheng Dongyun, Huili Capital Investment Co., Ltd.