Luenmei Quantum Co.,Ltd and Shenyang Huaxin Luenmei Asset Management Co., Ltd. cancelled the acquisition of Mega-info Media Co.,Ltd. from Lhasa Mega-info Investment Management Co., Ltd., Lhasa Huiyu Trade Co., Ltd, Lhasa Jinbaoli Business Advisory Partnership Enterprise (Limited Partnership) and Lhasa Mega-info Mobile Technology Co., Ltd.
July 28, 2019
Share
Luenmei Quantum Co.,Ltd (SHSE:600167) and Shenyang Huaxin Luenmei Asset Management Co., Ltd. signed an asset purchase agreement to acquire Mega-info Media Co.,Ltd. from Lhasa Mega-info Investment Management Co., Ltd., Lhasa Huiyu Trade Co., Ltd, Lhasa Jinbaoli Business Advisory Partnership Enterprise (Limited Partnership) and Lhasa Mega-info Mobile Technology Co., Ltd. for CNY 2.3 billion on July 29, 2018. Under the transaction, Luenmei Quantum Co.,Ltd will acquire 99% while its wholly-owned subsidiary Shenyang Huaxin Luenmei Asset Management Co., Ltd. will acquire 1% stake. During the financial year ended December 2017, Mega-info Media Co.,Ltd. reported total assets of CNY 430 million, net assets of CNY 358.9 million, revenue of CNY 337.8 million and net profit of CNY 125.37 million. The transaction is subject to shareholders approval of Luenmei Quantum Co.,Ltd. The transaction has been approved by the Board of Directors of Luenmei Quantum Co.,Ltd on July 29, 2018.
Luenmei Quantum Co.,Ltd (SHSE:600167) and Shenyang Huaxin Luenmei Asset Management Co., Ltd. cancelled the acquisition of Mega-info Media Co.,Ltd. from Lhasa Mega-info Investment Management Co., Ltd., Lhasa Huiyu Trade Co., Ltd, Lhasa Jinbaoli Business Advisory Partnership Enterprise (Limited Partnership) and Lhasa Mega-info Mobile Technology Co., Ltd. on July 29, 2019.
Mega info Media Co Ltd is a China-based company principally engaged in the railway media business. The Company's main business is the development, operation and advertising of high-speed rail digital media resources. The Company's services include television video advertisements, all-in-one advertisements, and large-screen advertisements. The Company mainly operates in the domestic market.