Xinhuanet Co., Ltd. completed the acquisition of an additional 6% stake in Xinhua Zhiyun Technology Co., Ltd from Chinese Universe Publishing and Media Group Co., Ltd..
Published on 02/17/2025 at 18:00
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Xinhuanet Co., Ltd. (SHSE:603888) agreed to acquire an additional 6% stake in Xinhua Zhiyun Technology Co., Ltd from Chinese Universe Publishing and Media Group Co., Ltd. (SHSE:600373) for CNY 150 million on December 20, 2024. Upon completion, Xinhuanet Co., Ltd. will own 45% stake in Xinhua Zhiyun Technology Co., Ltd. As of September 30, 2024, Xinhua Zhiyun Technology Co., Ltd reported total assets of CNY 460.48 million and total common equity of CNY 374.25 million. The transaction has been approved by the board of Chinese Universe Publishing and Media Group. As of February 18, 2025, Xinhua Zhiyun Technology Co., Ltd has recently completed the relevant industrial and commercial change registration procedures for this equity transfer and obtained the Business License reissued by the Zhejiang Provincial Market Supervision Administration. As of the date of this announcement, Chinese Universe Publishing and Media Group Co., Ltd. has received 90% of the total equity transfer price paid by Xinhuanet. The remaining 10% will be paid within 10 working days after the industrial and commercial change of this equity transfer. After the completion of this transaction, Chinese Universe Publishing and Media Group Co., Ltd. will no longer hold shares in Xinhua Zhiyun.
Xinhuanet Co., Ltd. (SHSE:603888) completed the acquisition of an additional 6% stake in Xinhua Zhiyun Technology Co., Ltd from Chinese Universe Publishing and Media Group Co., Ltd. (SHSE:600373) on February 18, 2025.
Xinhuanet Co., Ltd. is a China-based company principally engaged in the provision of news businesses. The Company mainly operates through four segments. Internet Advertising segment is engaged in the presentation and release of Internet advertisements. Information Service segment is engaged in the multimedia information services, big data intelligent analysis services, as well as forum and conference organization services. Website Construction and Technical Service segment is involved in the construction, information release and maintenance of central government, local government and enterprise and institutionâs websites. Mobile Internet segment is engaged in the mobile media businesses, mobile value added businesses, mobile information businesses, as well as online education businesses. The Company mainly operates its business in domestic market.
Xinhuanet Co., Ltd. completed the acquisition of an additional 6% stake in Xinhua Zhiyun Technology Co., Ltd from Chinese Universe Publishing and Media Group Co., Ltd..
