Chen Xiaodong signed an agreement to acquire 5.03% stake in Hylink Digital Solution Co., Ltd. from Jiang Xiangrui and Shanghai Huayang Lianzhong Enterprise Management Co., Ltd. for approximately CNY 200 million.
July 30, 2021
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Chen Xiaodong signed an agreement to acquire 5.03% stake in Hylink Digital Solution Co., Ltd. (SHSE:603825) from Jiang Xiangrui and Shanghai Huayang Lianzhong Enterprise Management Co., Ltd. for approximately CNY 200 million on June 29, 2021. Chen Xiaodong will acquire 11.5 million shares at an offer per share of CNY 17.514. Within 1 working day from the date of signing the share transfer agreement, Chen Xiaodong shall pay Jiang Xiangrui and Shanghai Huayang Lianzhong Enterprise Management the first share transfer payment of CNY 20 million, of which the first share transfer payment that Jiang Xiangrui and Shanghai Huayang Lianzhong Enterprise Management should obtain is CNY 8.6 million. The first share transfer payment that Jiang Xiangrui and Shanghai Huayang Lianzhong Enterprise Management should obtain is CNY 11.4 million. For this share transfer, within 2 working days from the date of obtaining the "Share Transfer Confirmation" issued by the Shanghai Stock Exchange for the target share transfer, Jiang Xiangrui and Shanghai Huayang Lianzhong Enterprise Management shall complete the individual income tax taxation procedures. Within 2 working days from the date of completing the tax payment procedures, the parties shall jointly submit the application for the transfer and registration of the target shares to the settlement company and complete the transfer registration in accordance with the agreement transfer method. Within 15 working days from the date the settlement company confirms the transfer and registration of the underlying shares to Chen Xiaodong, Chen Xiaodong shall pay Jiang Xiangrui and Shanghai Huayang Lianzhong Enterprise Management the second share transfer payment of CNY 80.7 million, of which Jiang Xiangrui and Shanghai Huayang Lianzhong Enterprise Management shall obtain the second share transfer payment is CNY 34.5 million and the second share transfer payment that Jiang Xiangrui and Shanghai Huayang Lianzhong Enterprise Management should obtain is CNY 46.2 million. Within 30 working days from the date when the subject shares are transferred and registered under Chen Xiaodong’s name, Chen Xiaodong shall pay Jiang Xiangrui and Shanghai Huayang Lianzhong Enterprise Management the remaining share transfer payment of CNY 100.7 million of which the remaining share transfer payment that Jiang Xiangrui and Shanghai Huayang Lianzhong Enterprise Management should obtain is CNY 43.1 million, and Jiang Xiangrui and Shanghai Huayang Lianzhong Enterprise Management should obtain the remaining share transfer payment. The share transfer amount is CNY 57.6 million. Jiang Xiangrui and Shanghai Huayang Lianzhong Enterprise Management will transfer 4.9 million shares as first tranche and 6.6 million as second tranche.
Hylink Digital Solutions Co Ltd is a China-based company principally engaged in the provision of Internet advertising business. The Company's primary business includes Internet advertising services and buyout sales agency services. The Internet advertising services mainly include the advertising agency, advertising planning and manufacturing, as well as film and television content manufacturing services. The buyout sales agency business mainly includes the purchase and sales of specific goods to specific customers through online, offline and other channels, as well as the provision of related marketing planning solutions. The Company mainly operates its business in domestic market.
Chen Xiaodong signed an agreement to acquire 5.03% stake in Hylink Digital Solution Co., Ltd. from Jiang Xiangrui and Shanghai Huayang Lianzhong Enterprise Management Co., Ltd. for approximately CNY 200 million.