CITIC Guoan Group Co., Ltd. agreed to acquire 12% stake in Xuzhou Guoan Yigou E-commerce Co., Ltd. from Citic Guoan Wine CO.,LTD for CNY 6 million.
December 19, 2019
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CITIC Guoan Group Co., Ltd. agreed to acquire 12% stake in Xuzhou Guoan Yigou E-commerce Co., Ltd. from Citic Guoan Wine CO.,LTD (SHSE:600084) for CNY 6 million on December 20, 2019. Payment will be done in one single installment within 5 days since signing of the respective agreement. For the year ending 2018, Xuzhou Guoan Yigou reported total assets of CNY 44.3 million, net assets of CNY 43.7 million, operating revenue of CNY 27.7 million, and net loss of CNY 4.5 million. There is no need for approval from the shareholders of Citic Guoan Wine CO.,LTD. The transaction was approved by the 12th meeting of the 7th directorate of Citic Guoan Wine on December 20, 2019. The transaction was approved by the 12th meeting of the 7th directorate of CITIC Guoan Group Co., Ltd. on December 21, 2019.
CITIC Niya Wine Co Ltd, formerly Citic Guoan Wine Co Ltd, is a China-based company principally involved in grape cultivation, wine production and sales. The Company's grape varieties include Cabernet Sauvignon, Merlot, Chardonnay and Marselan, among others. Its wine brands mainly include NIYA, WEST REGION and SUNTIME, covering high-end wine, mid-to-low-end wine and original wine. The Company mainly conducts its businesses in Mainland China.
CITIC NIYA WINE CO., LTD. 
