Guizhou Xinlong Zhixing Construction Development Co., Ltd. agreed to acquire Jiangsu BaDa Landscape Co.,Ltd from Shenzhen Ecobeauty Co., Ltd. and Ecobeauty Co., Ltd. for CNY 16.1 million.
October 20, 2020
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Guizhou Xinlong Zhixing Construction Development Co., Ltd. agreed to acquire Jiangsu BaDa Landscape Co.,Ltd from Shenzhen Ecobeauty Co., Ltd. (SZSE:000010) and Ecobeauty (Shenzhen) Co., Ltd. for CNY 16.1 million on October 20, 2020. Shenzhen Ecobeauty Co., Ltd. will sell the 99% stake it owns in Jiangsu BaDa Landscape Co.,Ltd and Ecobeauty (Shenzhen) Co., Ltd. will sell the 1% stake it owns in Jiangsu BaDa Landscape Co.,Ltd. Within 3 working days from the effective date of the transfer agreement, the entire transfer price shall be paid. For the year ending December 31, 2019, Jiangsu BaDa Landscape Co.,Ltd reported total assets of CNY 1.44 billion, net assets of CNY 22.32 million, revenue of CNY 296.43 million, operational profit of CNY 1.87 million and net profit of CNY 1.3 million. The transaction needs to be submitted to Shenzhen Ecobeauty Co., Ltd's shareholders meeting for deliberation. Shenzhen Ecobeauty Co., Ltd. held the twenty-third meeting of the tenth board of directors on October 20, 2020, and approved the transaction. Ecobeauty (Shenzhen) Co., Ltd. has received the equity transfer payments from Guizhou Xinlong Zhixing Construction Development Co., Ltd. On November 5, 2020, the transaction was approved in the 5th extraordinary general meeting of shareholders in 2020. As per announcement of November 27, 2020, the payment between the parties have been cleared.
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.
Guizhou Xinlong Zhixing Construction Development Co., Ltd. agreed to acquire Jiangsu BaDa Landscape Co.,Ltd from Shenzhen Ecobeauty Co., Ltd. and Ecobeauty Co., Ltd. for CNY 16.1 million.