INNER MONGOLIA XINHUA DISTRIBUTION GROUP CO.,LTD. Anhui Xinhua Media Co., Ltd. (SHSE:601801) won a bid to acquire 7% stake in Inner Mongolia Xinhua Publishing Group for approximately CNY 150 million on September 21, 2020. As a part of the transaction, Anhui Xinhua Media will acquire 18.55 million shares. As of December 31, 2019, Inner Mongolia Xinhua Publishing reported total assets of CNY 2.6 billion, total liabilities of CNY 1.9 billion, revenue of CNY 1.2 billion and net profit of CNY 175.7 million.
This has been approved in the Anhui Xinhua Media general managers meeting, and does not need the directorate and shareholders approvals.
