Hengxin Shambala Culture Co., Ltd. completed the acquisition of 25.3% stake in Pukeko Pictures Limited Partnership from Pioneer Capital Pukeko LP Limited.
March 05, 2018
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Hengxin Shambala Culture Co., Ltd. (SZSE:300081) entered into an agreement to acquire 25.3% stake in Pukeko Pictures Limited Partnership from Pioneer Capital Pukeko LP Limited for NZD 15 million on November 13, 2017. In a related transaction, Hengxin Shambala Culture Co., Ltd. entered into an agreement to acquire 33.3% stake in Pukeko Pictures GP Limited from Pioneer Capital Pukeko GP Limited for NZD 1 on November 13, 2017. Board of Hengxin Shambala Culture Co., Ltd. approved the motion regarding purchase of equity in Pukeko Pictures Limited Partnership by using raised funds. For the year ended December 2016, Pukeko Pictures Limited Partnership reported revenue of NZD 2.4 million, operating loss of NZD 6.1 million, and net loss of NZD 6.1 million. The transaction was approved by the Board of Directors of Hengxin Shambala Culture Co., Ltd. on November 21, 2017. On December 8, 2017, shareholders' of Hengxin Shambala Culture Co., Ltd. approved the transaction.
Hengxin Shambala Culture Co., Ltd. (SZSE:300081) completed the acquisition of 25.3% stake in Pukeko Pictures Limited Partnership from Pioneer Capital Pukeko LP Limited on March 6, 2018.
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. completed the acquisition of 25.3% stake in Pukeko Pictures Limited Partnership from Pioneer Capital Pukeko LP Limited.
HENGXIN SHAMBALA CULTURE CO.,LTD. 
