Shanghai Yuyuan Tourist Mart Co., Ltd. completed the acquisition of Foshan Chanxi Real Estate Development Co., Ltd from Zhuhai Chancheng Hospital Co., Ltd and Shanghai Fosun Medical Limited.
May 30, 2021
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Shanghai Yuyuan Tourist Mart (Group) Co., Ltd. (SHSE:600655) agreed to acquire Foshan Chanxi Real Estate Development Co., Ltd from Zhuhai Chancheng Hospital Co., Ltd and Shanghai Fosun Medical (Group) Limited for CNY 550 million on April 26, 2021. Under the terms of consideration, Shanghai Yuyuan Tourist Mart (Group) will pay the total price of this transfer is CNY 550 million, of which the equity transfer price is CNY 176.1 million and the debt transfer price is CNY 373.8 million. This transaction still needs the approval of the Shanghai Fosun Medical (Group) Limited shareholders meeting, and still needs the approval of Shanghai Yuyuan Tourist Mart (Group) Co., Ltd ' shareholders and approved by the Board of Directors. Foshan Chanxi Real Estate Development reported total assets of CNY 103.6 million and total common equity of CNY 98 million till March 31, 2021. Foshan Chanxi Real Estate Development reported total assets of CNY 928.8 million, total common equity of CNY 9.8 billion, total revenues of CNY 0.03 million and net loss of CNY 0.7 million for the year ending December 31, 2020. As on May 19, 2021, Shanghai Yuyuan Tourist Mart shareholders approved the transaction. As on May 27, 2021, Shanghai Fosun Medical (Group) Limited shareholders approved the transaction
Shanghai Yuyuan Tourist Mart (Group) Co., Ltd. (SHSE:600655) completed the acquisition of Foshan Chanxi Real Estate Development Co., Ltd from Zhuhai Chancheng Hospital Co., Ltd and Shanghai Fosun Medical (Group) Limited on May 31, 2021.
SHANGHAI YUYUAN TOURIST MART (GROUP) CO., LTD., formerly SHANGHAI YUYUAN TOURIST MART CO., LTD is a China-based company, principally engaged in property development business. The Company is mainly engaged in real estate development and sales, property management and leasing, chain gold jewelry stores, regular chain drug stores and regular chain department stores, which deal with gold jewelries, pharmaceuticals, food, art crafts and general merchandise. The Company is also engaged in the provision of catering services and commercial property business, among others. The Company mainly conducts its businesses in Shanghai, Sichuan Province, China, and overseas markets.
Shanghai Yuyuan Tourist Mart Co., Ltd. completed the acquisition of Foshan Chanxi Real Estate Development Co., Ltd from Zhuhai Chancheng Hospital Co., Ltd and Shanghai Fosun Medical Limited.