Shenzhen Easttop Supply Chain Management Co., Ltd. signed share transfer agreement to acquire 55% stake in Shanghai Xingya Customs Brokers Co., Ltd. from Shi Hui, Zhou Songwen and Yang Yong for CNY 38.5 million.
July 30, 2019
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Shenzhen Easttop Supply Chain Management Co., Ltd. (SZSE:002889) signed share transfer agreement to acquire 55% stake in Shanghai Xingya Customs Brokers Co., Ltd. from Shi Hui, Zhou Songwen and Yang Yong for CNY 38.5 million on June 28, 2019. Under the terms, Shenzhen Easttop Supply Chain Management Co., Ltd. will acquire 5.5 million shares of Shanghai Xingya Customs Brokers Co., Ltd. under which Shi Hui will sell 1.4 million shares accounting for 14.3%, Zhou Songwen will sell 1.1 million shares accounting for 10.7% stake and Yang Yong will sell 3 million shares accounting for 3% stake in Shanghai Xingya Customs Brokers Co., Ltd. Post acquisition, Shenzhen Easttop Supply Chain Management Co., Ltd. will hold 5.5 million shares accounting for 55% stake, Shi Hui will hold 2.6 million shares accounting for 25.7% stake and Zhou Songwen will hold 2 million shares accounting for 19.3% stake in Shanghai Xingya Customs Brokers Co., Ltd. As of year ended December 31, 2018, Shanghai Xingya Customs Brokers Co., Ltd. reported total assets of CNY 98.9 million, net assets of CNY 88.4 million, revenue of CNY 160 million and net profit of CNY 17 million. The transaction has been approved in the 8th meeting of Shenzhen Easttop Supply Chain Management Co., Ltd. 4th Directorate held on June 28, 2019 and does not need the shareholders’ approval.
Shenzhen Easttop Supply Chain Management Co Ltd is a China-based company principally engaged in the provision of integrated supply chain management services. The Company's principal businesses include the provision of raw materials, spare parts and finished goods procurement, order and contract management services, import and export agents, transportation and inventory management services, information technology management, finished product distribution and capital settlement services. The Company mainly operates its businesses in domestic market.
Shenzhen Easttop Supply Chain Management Co., Ltd. signed share transfer agreement to acquire 55% stake in Shanghai Xingya Customs Brokers Co., Ltd. from Shi Hui, Zhou Songwen and Yang Yong for CNY 38.5 million.
SHENZHEN EASTTOP SUPPLY CHAIN MANAGEMENT CO., LTD. 
