Hangzhou Songcheng Group Holding Co., Ltd. agreed to acquire Songcheng Performance International Development Co., Limited from Songcheng Performance Development Co.,Ltd for approximately CNY 590 million.
April 22, 2022
Share
Hangzhou Songcheng Group Holding Co., Ltd. agreed to acquire Songcheng Performance International Development Co., Limited from Songcheng Performance Development Co.,Ltd (SZSE:300144) for approximately CNY 590 million on April 22, 2022. As per the transaction, Hangzhou Songcheng Group Holding Co., Ltd. will pay CNY 574 million for equity transfer price and CNY 20.05 million for repayment of debts. As on March 31, 2022, Songcheng Performance International Development Co., Limited generated total assets of CNY 582.7 million and net assets of CNY 549.5 million. The transaction is approved by board of directors of Songcheng Performance Development Co.,Ltd.
Songcheng Performance Development Co., Ltd is a China-based company principally engaged in the cultural entertainment and pan entertainment business. The Companyâs main businesses include live entertainment, Internet entertainment and tourism. The Company is also involved in the provision of cultural shows, ancient workshop shows, folk performances, ancient recreation reactive and cultural theme activities, among others. The Company operates its business mainly in Hangzhou, Zhejiang Province, Sanya, Hainan Province, Lijiang, Yunnan Province and Beijing, China.
Hangzhou Songcheng Group Holding Co., Ltd. agreed to acquire Songcheng Performance International Development Co., Limited from Songcheng Performance Development Co.,Ltd for approximately CNY 590 million.
SONGCHENG PERFORMANCE DEVELOPMENT CO.,LTD 
