Xu Hong entered into a strategic cooperation framework and cooperation intention agreement to acquire a 16% stake in Golden Scepters Culture Media Co., Ltd. from Sanxiang Impression Co., Ltd. for CNY 300 million.
September 29, 2021
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Xu Hong entered into a strategic cooperation framework and cooperation intention agreement to acquire a 16% stake in Golden Scepters (Shanghai) Culture Media Co., Ltd. from Sanxiang Impression Co., Ltd. (SZSE:000863) for CNY 300 million on December 24, 2020. As of the date of this announcement, the Sanxiang Impression has received a total of CNY 81 million and the remaining CNY 219 million are pending.
Sanxiang Impression Co., Ltd., formerly Sanxiang Co., Ltd, is a China-based company principally engaged in the development and sale of real estates. The Company's real estate development business includes construction and installation, building material processing, decorative design, real estate brokerage, advertising and property management. The Company is also involved in the leasing of housings, as well as the provision of cultural activities services. The Company operates its business in domestic market, with Shanghai as its main market.
Xu Hong entered into a strategic cooperation framework and cooperation intention agreement to acquire a 16% stake in Golden Scepters Culture Media Co., Ltd. from Sanxiang Impression Co., Ltd. for CNY 300 million.
SANXIANG IMPRESSION CO., LTD. 
