Client Service International, Inc. completed the acquisition of 48.2% stake in Shenzhen Ningze Financial Technology Co., Ltd. from Beijing Jiazhi Rongxin Investment Partnership Enterprise (Limited Partnership), Wuyishan Junze Business Management Center (Limited Partnership) and Huaihua Qiwu Information Technology Center (Limited Partnership).
March 18, 2020
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Client Service International, Inc. (SZSE:300663) agreed to acquire 48.2% stake in Shenzhen Ningze Financial Technology Co., Ltd. from Beijing Jiazhi Rongxin Investment Partnership Enterprise (Limited Partnership), Wuyishan Junze Business Management Center (Limited Partnership) and Huaihua Qiwu Information Technology Center (Limited Partnership) for CNY 84.4 million on December 11, 2019. Client Service International, Inc. will acquire 12.6% stake from Beijing Jiazhi Rongxin Investment Partnership Enterprise (Limited Partnership), 6.5% stake from Wuyishan Junze Business Management Center (Limited Partnership) and 29.11% stake from Huaihua Qiwu Information Technology Center (Limited Partnership). Post completion of this transaction and a separate capital increase, Client Service International, Inc. will acquire 51% stake in Shenzhen Ningze Financial Technology Co., Ltd.
For the year ended 2018, Shenzhen Ningze Financial Technology Co., Ltd. reported total assets of CNY 11.02 million, revenues of CNY 0.62 million, operating loss of CNY 13.32 million, net loss of 13.32 million and net assets of CNY 7.4 million. The transaction has been approved in the 31st Meeting of Client Service International, Inc.’s 2nd Directorate held on December 11, 2019.
Client Service International, Inc. (SZSE:300663) completed the acquisition of 48.2% stake in Shenzhen Ningze Financial Technology Co., Ltd. from Beijing Jiazhi Rongxin Investment Partnership Enterprise (Limited Partnership), Wuyishan Junze Business Management Center (Limited Partnership) and Huaihua Qiwu Information Technology Center (Limited Partnership) on March 19, 2020.
Client Service International Inc is a company engaged in providing software products and electronic payment technology services to financial institutions. The Company's main products include distributed in-memory databases, bank outlets smart devices, electronic banking systems and Internet financial systems. The electronic banking system products are comprised of online banking, mobile banking and WeChat banking. The Internet financial system products primarily include banking and financial open platforms. The Company also provides technology development and technical services for banks and other financial institutions.
Client Service International, Inc. completed the acquisition of 48.2% stake in Shenzhen Ningze Financial Technology Co., Ltd. from Beijing Jiazhi Rongxin Investment Partnership Enterprise (Limited Partnership), Wuyishan Junze Business Management Center (Limited Partnership) and Huaihua Qiwu Information Technology Center (Limited Partnership).
CLIENT SERVICE INTERNATIONAL, INC. 
