Hebei Puying Communication Equipment Sales Co., Ltd. agreed to acquire 82% stake in Hebei Putai Communication Co., Ltd. from Hengxin Shambala Culture Co., Ltd. for CNY 1.6 million.
March 17, 2017
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Hebei Puying Communication Equipment Sales Co., Ltd. agreed to acquire 82% stake in Hebei Putai Communication Co., Ltd. from Hengxin Shambala Culture Co., Ltd. (SZSE:300081) for CNY 1.6 million on March 17, 2017. For the year ended December 31, 2016, Hebei Putai Communication Co., Ltd. reported total assets of CNY 28.6 million, net liabilities of CNY 3.1 million, revenue of CNY 92.8 million and net loss of CNY 9.7 million. The transaction is subject to approval from shareholders of Hengxin Shambala Culture Co., Ltd. The transaction has been approved of by the Board of Hengxin Shambala Culture Co., Ltd.
HENGXIN SHAMBALA CULTURE CO.,LTD., formerly HENGXIN MOBILE BUSINESS CO.,LTD., is a China-based company principally engaged in the industries supported by artistic creativity and visual technology. The Company operates through three main segments. The Computer Graphics (CG) and Visual Reality (VR) Content Production segment is mainly involved in the utilization of the Company's own CG and VR virtual reality content creation capabilities to build an image data asset library.The Children Industry Chain Development and Operation segment is mainly involved in the content production of childrenâs intellectual property (IP), channel distribution, derivative product licensing, and operation of the offline theme parks. The Location Based Entertainment (LBE) segment is mainly engaged in the provision of LBE venue design and manufacturing services to customers. Through its subsidiaries, the Company is also engaged in the mobile phone retail business and operator customized end product business.
Hebei Puying Communication Equipment Sales Co., Ltd. agreed to acquire 82% stake in Hebei Putai Communication Co., Ltd. from Hengxin Shambala Culture Co., Ltd. for CNY 1.6 million.
HENGXIN SHAMBALA CULTURE CO.,LTD. 
