Zhejiang Sunriver Culture Co.,Ltd. completed the acquisition of 60% stake in Ya'an Oriental Bifengxia Tourism Co., Ltd. from Wuxi Youmu Chenghuai Tourism Culture Co., Ltd.
August 07, 2023
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Zhejiang Sunriver Culture Co.,Ltd. (SHSE:600576) agreed to acquire 60% stake in Ya'an Oriental Bifengxia Tourism Co., Ltd. from Wuxi Youmu Chenghuai Tourism Culture Co., Ltd. for approximately CNY 410 million on July 20, 2023. In a related transaction Zhejiang Sunriver Culture Co.,Ltd. (SHSE:600576) agreed to acquire 20% stake in Ya'an Oriental Bifengxia Tourism Co., Ltd. from Chengdu Wanguan (Group) Real Estate Co., Ltd. for CNY 124 million. The total transaction price was CNY 406.32 million. The acquirer will pay the transferor 30% of the total purchase price (CNY 121.89 million) within one working day after the "Acquisition Agreement" takes effect, offsetting CNY 13.72 million with the transferor's withdrawn cash dividend and paying the remaining CNY 58.16 million via bank transfer. Ya'an Oriental Bifengxia Tourism Co., Ltd. reported financials for March 31, 2023, total assets of 201.29 million and net assets of CNY 79.01 million. Zhejiang Sunriver Culture Co., Ltd. board of directors approved the transaction. The transaction is approved by the shareholders of Zhejiang Sunriver on August 7, 2023.
Zhejiang Sunriver Culture Co.,Ltd. (SHSE:600576) completed the acquisition of 60% stake in Ya'an Oriental Bifengxia Tourism Co., Ltd. from Wuxi Youmu Chenghuai Tourism Culture Co., Ltd. on August 8, 2023.
Zhejiang Sunriver Culture Tourism Co Ltd, formerly Zhejiang Sunriver Culture Co Ltd, is a company mainly engaged in animation and its derivative business. The Company is also engaged in animation film and television business, internet promotion business, cultural tourism animation business and financial leasing business. The animation and its derivatives business is mainly engaged in the creativity, planning, production and distribution of mobile Internet new media animation, animation copyright authorization, development and operation of derivatives, animation base support, etc. The animation film and television business is mainly engaged in the creativity, production and investment of animation films, animation dramas and animation short videos. The internet promotion business is mainly engaged in traffic integration and Internet marketing. The cultural tourism animation business mainly refers to cooperation with tourism destinations and integration and innovation attempts.