Wangfujing Group Co., Ltd. completed the acquisition of Hainan Aotelaisi Tourism Development Co., Ltd from Juyuan Xincheng Investment Management Co., Ltd.
July 01, 2022
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Wangfujing Group Co., Ltd. (SHSE:600859) agreed to acquire Hainan Aotelaisi Tourism Development Co., Ltd from Juyuan Xincheng (Tianjin) Investment Management Co., Ltd for CNY 160 million on May 24, 2022. Wangfujing Group Co., Ltd. will pay Juyuan Xincheng (Tianjin) Investment Management Co., Ltd shareholder loan principal and interest creditor's rights to Hainan Aotelaisi Tourism Development Co., Ltd totaling CNY 776.60 million. Wangfujing Group Co., Ltd. (SHSE:600859) will sign the contract within the 5 working days. As of February 28, 2022, Hainan Aotelaisi Tourism Development Co., Ltd reported revenue of CNY 25.76 million, EBIT of CNY 11.19 million, total assets of CNY 1,403.89 million, net income of CNY 8.46 million and total common equity of CNY 124.98 million. As of July 1, 2022, Hainan Aotelaisi Tourism Development was officially renamed to Wangfujing Yuewu Town.
Wangfujing Group Co., Ltd. (SHSE:600859) completed the acquisition of Hainan Aotelaisi Tourism Development Co., Ltd from Juyuan Xincheng (Tianjin) Investment Management Co., Ltd. on July 2, 2022.
Wangfujing Group Co., Ltd., formerly Beijing Wangfujing Department Store (Group) Co., Ltd., is a China-based company, principally engaged in general merchandise retailing business. The Company operates and manages general department stores, which deal with commodities such as apparels, food, footwear, hats, cosmetics, bedding products and general merchandise, among others. The Company is also engaged in the property leasing business. The Company operates its business through domestic markets.
Wangfujing Group Co., Ltd. completed the acquisition of Hainan Aotelaisi Tourism Development Co., Ltd from Juyuan Xincheng Investment Management Co., Ltd.
WANGFUJING GROUP CO., LTD. 
