Yonyou Network Technology Co., Ltd. cancelled the acquisition of additional 20% stake in Qianhai Mintaian Insurance Brokers Co., Ltd. from Mintaian Insurance Surveyors & Loss Adjusters Group Co., Ltd., Shenzhen Muchenglin Technology Co., Ltd., Shenzhen Xianli Investment Co., Ltd., and Han Weiwei.
March 22, 2019
Share
Yonyou Network Technology Co., Ltd. (SHSE:600588) agreed to acquire additional 20% stake in Qianhai Mintaian Insurance Brokers Co., Ltd. from Mintaian Insurance Surveyors & Loss Adjusters Group Co., Ltd., Shenzhen Muchenglin Technology Co., Ltd., Shenzhen Xianli Investment Co., Ltd., and Han Weiwei for CNY 19.9 million on March 23, 2018. Mintaian Insurance Surveyors & Loss Adjusters Group Co., Ltd., Shenzhen Muchenglin Technology Co., Ltd., Shenzhen Xianli Investment Co., Ltd., and Han Weiwei will transfer 15.2%, 1.6%, 1.2%, and 2% respectively. Upon completion, Yonyou Network Technology Co., Ltd. will hold 80% stake in Qianhai Mintaian Insurance Brokers Co., Ltd. For the year ended December 31, 2017, Qianhai Mintaian Insurance Brokers Co., Ltd. reported total assets of CNY 48.9 million, net assets of CNY 43.6 million, revenue of CNY 23.6 million, and net loss of CNY 7.8 million. The transaction has been approved by the 18th session of the 7th directorate meeting of Yonyou Network Technology Co., Ltd. and does not need its shareholders’ approval.
Yonyou Network Technology Co., Ltd. (SHSE:600588) cancelled the acquisition of additional 20% stake in Qianhai Mintaian Insurance Brokers Co., Ltd. from Mintaian Insurance Surveyors & Loss Adjusters Group Co., Ltd., Shenzhen Muchenglin Technology Co., Ltd., Shenzhen Xianli Investment Co., Ltd., and Han Weiwei on March 23, 2019.
Yonyou Network Technology Co., Ltd. is specialized in the development and manufacturing of management software products. These products are used for enterprise resource planning, human resource management, office automation, customer relationship management, product lifecycle management, etc. Net sales break down by activity as follows:
- services (69.1%): maintenance, technical support, consulting, and training services;
- sale of licenses (29.6%);
- other (1.3%).
China accounts for 98.4% of net sales.
YONYOU NETWORK TECHNOLOGY CO.,LTD. 
