Guangsha Holding Group Co., Ltd. cancelled the acquisition of remaining 44.45% stake in Guangsha Real Estate Development Group Co., Ltd. from Zhejiang Guangsha Co., Ltd..
January 27, 2017
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Guangsha Holding Group Co., Ltd. agreed to acquire remaining 44.45% stake in Guangsha Real Estate Development Group Co., Ltd. from Zhejiang Guangsha Co., Ltd. (SHSE:600052) for CNY 75.2 million on January 28, 2016. Guangsha Holding committed to pay the consideration to Zhejiang Guangsha in a lump sum before March 31, 2016. Guangsha Holding presently holds 55.55% stake in Guangsha Real Estate and post deal it will hold 100% stake in Guangsha Real Estate Development Group Co., Ltd. From January 2015 to November 2015, Guangsha Real Estate Development had operating revenues of CNY 7.06 million, total loss of CNY 7.05 million and net loss of CNY 7.05 million. As of November 30, 2015, Guangsha Real Estate Development had total assets of approximately CNY 828 million, total liabilities of CNY 657 million and net assets of CNY 170 million. The transaction is approved by Board of Directors of Zhejiang Guangsha on January 28, 2016.
Guangsha Holding Group Co., Ltd. cancelled the acquisition of remaining 44.45% stake in Guangsha Real Estate Development Group Co., Ltd. from Zhejiang Guangsha Co., Ltd. (SHSE:600052) on January 28, 2017.
Zhejiang Dongwang Times Technology Co Ltd, formerly Zhejiang Guangsha Co Ltd, is a China-based company principally engaged in film and television cultural businesses, including the investment, production, distribution of television dramas, as well as related derivatives. The Company is also engaged in the development and sales of real estates. The Company mainly conducts its business within domestic market.
Guangsha Holding Group Co., Ltd. cancelled the acquisition of remaining 44.45% stake in Guangsha Real Estate Development Group Co., Ltd. from Zhejiang Guangsha Co., Ltd..
ZHEJIANG DONGWANG TIMES TECHNOLOGY CO., LTD. 
