Shenzhen Geoway Co., Ltd. signed a framework agreement to acquire 51% stake in Shenzhen Run In-time Supply Chain Management Co., Ltd. from Shenzhen Runhong Information Technology Co., Ltd., Gao Wei, Yang Xueqiang and Cai Changfu.
May 23, 2017
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Shenzhen Geoway Co., Ltd. (SHSE:600462) signed a framework agreement to acquire 51% stake in Shenzhen Run In-time Supply Chain Management Co., Ltd. on May 23, 2017. Framework agreement was signed with Shenzhen Runhong Information Technology Co., Ltd., Gao Wei, Yang Xueqiang and Cai Changfu. Shenzhen Geoway Co., Ltd. (SHSE:600462) signed an agreement to acquire 51% stake in Shenzhen Run In-time Supply Chain Management Co., Ltd. from Shouning Runhongmao Investment Partnership Enterprise (Limited Partnership), Shouning Runkunde Investment Partnership Enterprise (Limited Partnership), Shouning Runyuanfei Investment Partnership Enterprise (Limited Partnership) and Shouning Runfeng Hengye Investment Partnership Enterprise (Limited Partnership) for CNY 158.1 million on June 23, 2017. As of December 31, 2016, Shenzhen Run In-time Supply Chain Management reported total assets of CNY 1.98 billion, total equity of CNY 101.97 million, revenue of CNY 1.19 billion, operating profit of CNY 27.77 million, and net profit of CNY 37.32 million.
The transaction is subject to shareholders’ approval of Shenzhen Geoway Co., Ltd. The transaction was approved by the Board of Shenzhen Geoway Co., Ltd. on May 23, 2017. The transaction was approved by the shareholders of Shenzhen Run In-time Supply Chain Management on June 21, 2017. The transaction was approved by the board of directors of Shenzhen Geoway Co., Ltd. on June 23, 2017. The transaction was approved by the shareholders of Shenzhen Geoway Co., Ltd. on July 21, 2017. Guorong Securities Co., Ltd. acted as financial advisor, Grandall Law Firm acted as legal advisor, and Daxin Certified Public Accountants Co., Ltd. acted as accountant to Shenzhen Geoway Co., Ltd.
Hubei Geoway Investment Co Ltd, formerly Shenzhen Geoway Co Ltd, is a China-based company mainly engaged in investment. Through its wholly-owned subsidiary, the Company is mainly engaged in the procurement and sales of raw materials related to mobile phones; the Company engages in after-sales service of camera modules through its holding subsidiary; the Company through its wholly-owned grandson company is engaged in marketing services and public relations, providing professional marketing activities and communications for various industries, and providing consulting services to customers with planning and execution capabilities. The Company distributes its products and services within the domestic market.
Shenzhen Geoway Co., Ltd. signed a framework agreement to acquire 51% stake in Shenzhen Run In-time Supply Chain Management Co., Ltd. from Shenzhen Runhong Information Technology Co., Ltd., Gao Wei, Yang Xueqiang and Cai Changfu.