Yonyou Shufa Financial Services Co., Ltd agreed to acquire the remaining 30% stake in Yonyou Commercial Factoring Co., Ltd. from Yonyou Network Technology Co., Ltd. for CNY 45 million.
December 29, 2020
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Yonyou Shufa Financial Services (Tianjin) Co., Ltd agreed to acquire the remaining 30% stake in Yonyou (Shenzhen) Commercial Factoring Co., Ltd. from Yonyou Network Technology Co., Ltd. (SHSE:600588) for CNY 45 million on December 30, 2020. Yonyou Shufa Financial Services (Tianjin) Co., Ltd shall pay 60% of the consideration equivalent to CNY 27 million within ten days from the agreement and remaining 40% equivalent to CNY 18 million within ten working days after completion. Post completion, the Yonyou Network Technology Co., Ltd. will no longer own any stake and Yonyou Shufa Financial Services (Tianjin) Co., Ltd will own 100% stake in Yonyou (Shenzhen) Commercial Factoring Co., Ltd. As on October 31, 2020, total asset and net asset of Yonyou (Shenzhen) Commercial Factoring Co., Ltd. was approximately CNY 157 and approximately CNY 146 million respectively. The transaction was approved by the 12th session of the 8th directorate of Yonyou Network Technology Co., Ltd.
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. 
