SHENYANG PUBLIC has completed the acquisition of a 51% stake in Guangzhou Zhudao Property Management
SHENYANG PUBLIC has completed the acquisition of 51% equity in Guangzhou Zhudao Property Management, with the buyer being Shenzhen Wanzi Hotel Apartment Management Co., Ltd. and the seller being Beijing Jiuzhou Technology Co., Ltd. The transaction amount is RMB 550,000. All conditions precedent of the equity transfer agreement have been fulfilled, and the completion date is July 23, 2025. After the acquisition, the target company and its subsidiaries will become subsidiaries of the company, and their financial performance will be included in the group's consolidated financial statements
According to the announcement from SHENYANG PUBLIC (00747), on February 28, 2025, the buyer Shenzhen Wanzi Hotel Apartment Management Co., Ltd. (an indirect wholly-owned subsidiary of the company) and the seller Beijing Jiuzhou Technology Co., Ltd. entered into a share transfer agreement, under which the buyer conditionally agreed to purchase and the seller conditionally agreed to sell the shares for sale (i.e., 51% equity of the target company) at a price of RMB 550,000.
All conditions precedent under the share transfer agreement have been fulfilled, and the transaction was completed on July 23, 2025. Upon completion, the target company is owned by the buyer, seller, and Beijing Wanzhong Runhua with 51%, 14%, and 35% equity respectively. After completion, the target company and its non-wholly-owned subsidiary Shijiazhuang Runhua will become subsidiaries of the company, and thus, the financial performance of the target group will be consolidated into the group's consolidated financial statements
