Ningbo Topological Garden Engineering Co., Ltd. completed the acquisition of Ningbo Landscape Architecture Design & Research Institute Co., Ltd. from Shenzhen Ecobeauty Co., Ltd..
December 15, 2019
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Ningbo Topological Garden Engineering Co., Ltd. agreed to acquire Ningbo Landscape Architecture Design & Research Institute Co., Ltd. from Shenzhen Ecobeauty Co., Ltd. (SZSE:000010) for CNY 41.8 million on December 4, 2019. Under the terms of the deal, 1st installment of 60% of the transactional price will be paid within 10 days since signing of the agreement. The 2nd installment of 15% of the price will be paid before January 24, 2019. The 3rd installment of 15% of the price will be paid before March 30, 2019. The 4th installment for 10% of the price will be paid before June 30, 2019. As of December 31, 2018, Ningbo Landscape Architecture Design & Research Institute reported total assets of CNY 119 million, net assets of CNY 26.25 million, revenue of CNY 45.86 million and net loss of CNY 10.9 million. The transaction does not need for approval from the shareholders’ meeting of Shenzhen Ecobeauty. The transaction was approved by the Board of Directors of Shenzhen Ecobeauty.
Ningbo Topological Garden Engineering Co., Ltd. completed the acquisition of Ningbo Landscape Architecture Design & Research Institute Co., Ltd. from Shenzhen Ecobeauty Co., Ltd. (SZSE:000010) on December 16, 2019. On June 30, 2020, Shenzhen Ecobeauty Co., Ltd. received the final payment of CNY 4.18 million.
SHENZHEN ECOBEAUTY CO., LTD., formerly BEIJING SHENHUAXIN CO., LTD., is a China-based company principally engaged in landscaping construction engineering business. The Company mainly operates through landscape design, the construction and maintenance of landscaping projects, as well as the cultivation and sale of seedlings. The Company is also involved in the provision of gas selling services. The Company operates its business within domestic market, mainly in East China and Southwest China.
Ningbo Topological Garden Engineering Co., Ltd. completed the acquisition of Ningbo Landscape Architecture Design & Research Institute Co., Ltd. from Shenzhen Ecobeauty Co., Ltd..