Jiangxi Zhongjiang Group Co., Ltd., agreed to acquire the remaining 20% stake in Jiangxi Zixing Property Service Co., Ltd., from Kunwu Jiuding Investment Holdings Co., Ltd. for CNY 3.7 million.
June 15, 2021
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Jiangxi Zhongjiang Group Co., Ltd., agreed to acquire the remaining 20% stake in Jiangxi Zixing Property Service Co., Ltd., from Kunwu Jiuding Investment Holdings Co., Ltd. (SHSE:600053) for CNY 3.7 million on June 14, 2021. The consideration will be paid in cash. After the agreement comes into effect, Kunwu Jiuding Investment Holdings Co., Ltd. shall cooperate with Jiangxi Zhongjiang Group Co., Ltd., to complete the relevant change registration procedures for the transfer of the underlying assets to Jiangxi Zhongjiang Group Co., Ltd., as soon as possible. Jiangxi Zhongjiang Group Co., Ltd.’s shall pay Kunwu Jiuding Investment Holdings Co., Ltd., the purchase price within 360 days from the delivery date of the underlying assets. After the transaction is completed, Kunwu Jiuding Investment Holdings Co., Ltd., will no longer hold the equity of Jiangxi Zixing Property Service Co., Ltd. As of April 30, 2021, Jiangxi Zixing Property Service Co., Ltd., had net assets of CNY 5.09 million and CNY 16.99 million. The transaction is subject to approval from Jiangxi Zhongjiang Group Co., Ltd.’s shareholders, approval from Kunwu Jiuding Investment Holdings Co., Ltd.’s board of directors and its shareholders. If any of the effective conditions is not fulfilled and the transaction cannot become effective and can be performed normally, neither party to the agreement shall be held liable for compensation of the other party. On June 14, 2021, Kunwu Jiuding Investment Holdings Co., Ltd., held the 17th meeting of the 8th session of the board of directors, and reviewed and approved the transaction. On June 14, 2021, Kunwu Jiuding Investment Holdings Co., Ltd., held the 13th meeting of the 8th Board of Supervisors, at which the transaction was reviewed and approved.
Kunwu Jiuding Investment Holdings CO., Ltd is a China-based company mainly engaged in the private equity investment management business and real estate development and operation. The Company's private equity investment management business raises funds from fund investors through private placement, invests those funds in corporate equities, and ultimately produces income through capital appreciation. The real estate development and operation business is mainly engaged in the development and sales of residential properties and the leasing of commercial properties, which including the Zijin City project located in Nanchang City, Jiangxi Province. The Company operates its businesses primarily within the domestic market.
Jiangxi Zhongjiang Group Co., Ltd., agreed to acquire the remaining 20% stake in Jiangxi Zixing Property Service Co., Ltd., from Kunwu Jiuding Investment Holdings Co., Ltd. for CNY 3.7 million.