Wang Jinsong entered into an agreement to acquire 5% stake in Hengxin Shambala Culture Co.,Ltd. from Meng Xianmin for approximately CNY 160 million.
February 08, 2021
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Wang Jinsong entered into an agreement to acquire 5% stake in Hengxin Shambala Culture Co.,Ltd. (SZSE:300081) from Meng Xianmin for approximately CNY 160 million on February 8, 2021. Wang Jinsong will acquire 26 million shares at price of CNY 6.1 per share. This share transfer will not cause changes in the company's controlling shareholders and actual controllers. The transfer of shares under this agreement will not have an impact on the company's financial status, asset value and sustainable operation ability; at the same time, there is no situation that will harm the interests of the company and small and medium investors. China Post Securities Co., Ltd acted as pledgee in the deal.
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. 
