Hengxin Shambala Culture Co., Ltd. agreed to acquire 33.3% stake in Pukeko Pictures Gp Limited from Pioneer Capital Pukeko GP Limited for NZD 1.
November 12, 2017
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Hengxin Shambala Culture Co., Ltd. (SZSE:300081) agreed to acquire 33.3% stake in Pukeko Pictures Gp Limited from Pioneer Capital Pukeko GP Limited for NZD 1 on November 13, 2017. In a related transaction, Hengxin Shambala Culture Co., Ltd. agreed to acquire 25.3% stake in Pukeko Pictures Limited Partnership from Pioneer Capital Pukeko LP Limited for NZD 14.9 million.
Pukeko Pictures Gp Limited reported revenue of CNY 2.2 million, operating profit of CNY 0.32 million and net profit of CNY 0.64 million for the year ended December 31, 2016. On November 21, 2017, Hengxin Shambala Culture Co., Ltd. held the 9th session of its 6th directorate, and approved the proposal on the changes in use of proceeds and the use of raised proceeds to acquire Pukeko Pictures Limited Partnership and Pukeko Pictures GP Limited. The transaction was approved by the 2017 3rd extraordinary shareholders’ meeting 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.
HENGXIN SHAMBALA CULTURE CO.,LTD. 
