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    821   HK0000048543

VALUE CONVERGENCE HOLDINGS LIMITED

(821)
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Delayed Hong Kong Stock Exchange  -  05/27 04:08:54 am EDT
0.2320 HKD   +0.43%
04/19Value Convergence Holdings Limited Appoints Wong Kam Fat, Tony Vice Chairman and Executive Director
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04/14Value Convergence Holdings Limited Announces Resignation of Wong Kam Choi, Kerry, Mh as Independent Non-Executive Director, Chairman of Remuneration Committee, Member of Audit Committee and Nomination Committee
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03/31Value Convergence Holdings Limited Reports Earnings Results for the Full Year Ended December 31, 2021
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Value Convergence Holdings Limited cancelled the acquisition of Dream Impression Holdings Limited from iDreamSky Technology Holdings Limited.

11/30/2021 EDT

Value Convergence Holdings Limited (SEHK:821) entered into the sale and purchase agreement to acquire Dream Impression Holdings Limited from iDreamSky Technology Holdings Limited (SEHK:1119) for CNY 28 million on July 2, 2021. In a related transaction, Qianhai Hanxiang Investment Management (Shenzhen) Co., Ltd. subsidiary of Value Convergence Holdings entered into the sale and purchase agreement to acquire Relevant Software from Shenzhen Qianhai iDream Technology Co., Ltd., an indirect wholly-owned subsidiary of the iDreamSky Technology Holdings for CNY 45 million. The aggregate consideration of CNY 73 million is paid in stock by issuing 425.954020 million shares of Value Convergence Holdings. Upon the Completion, Dream Impression Holdings Limited will become a wholly-owned subsidiary of Value Convergence Holdings. For the year ended December 31, 2020, Dream Impression Holdings reported revenues of CNY 2.963 million, Loss after tax of CNY (0.154) million and Net Assets of CNY 1.327 million. As part of the transaction, Dream Impression Holdings will lead a series of corporate re-organisation involving the Vendor Group. Eventually, the Dream Impression Holdings will legally and beneficially own the entire issued share capital of Zero One Hong Kong, and Zero One Hong Kong will legally and beneficially own 60% of the entire issued share capital of Zero One Zhi He. The transaction is subject to necessary approvals and consents, Restructuring having been completed and reasonably satisfied with the results of the due diligence review to be conducted on the Dream Impression Holdings. Value Convergence Holdings Limited (SEHK:821) cancelled the acquisition of Dream Impression Holdings Limited from iDreamSky Technology Holdings Limited (SEHK:1119) on November 30, 2021. As the conditions precedent under the Sale and Purchase Agreement have not been completed and/or satisfied on or before the Long Stop Date (November 30, 2021), the Sale and Purchase Agreement lapsed accordingly.


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Financials
Sales
Net income
Net Debt
P/E ratio
Yield
Capitalization 480 M 61,2 M 61,2 M
EV / Sales -1
EV / Sales 0
Nbr of Employees 68
Free-Float 81,3%
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Managers and Directors
Yick Fung Lai Chief Financial Officer & Secretary
Yiu Man Fu Chairman
Chung Kin Wong Independent Non-Executive Director
Miu Man Siu Independent Non-Executive Director
Hoi Kwong Lin Executive Director
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