ST Dvision's subsidiary Dvision Ronghui plans to sell a 64% stake in Zhongshi Huasheng
ST Dvision's subsidiary Dvision Ronghui intends to sell its 64% equity stake in Zhongshi Huasheng to Shenzhen Shilijia Technology Co., Ltd. for a transaction price of 5.45 million yuan. After this equity transfer, Dvision Ronghui will no longer hold any equity in Zhongshi Huasheng. Zhongshi Huasheng focuses on IT system development and data analysis services in the broadcasting and television regulatory industry, but due to declining investment capacity and the loss of core employees, its business development has been hindered, leading to the decision to sell the equity to promote better development for both parties
According to the announcement from *ST Dvision (300167.SZ), the company's controlling subsidiary, Shenzhen Dvision Ronghui Investment Co., Ltd. (referred to as "Dvision Ronghui"), will sell its 64% equity stake in Zhongshi Huasheng Culture (Beijing) Co., Ltd. (referred to as "Zhongshi Huasheng") to Shenzhen Shilijia Technology Co., Ltd. The price for the sold assets is RMB 5.45 million. After the completion of this equity transfer, Dvision Ronghui will no longer hold any equity in Zhongshi Huasheng.
It is reported that Zhongshi Huasheng has been engaged in IT system development and data analysis services in the broadcasting and television regulatory industry for many years. Dvision began collaborating with the Ordos local government to build a data center in 2014 and had already planned to acquire Zhongshi Huasheng at that time, aiming to create business synergies by storing user data in the low-cost Ordos data base and providing integrated services for system development and data storage analysis. In recent years, due to issues such as delayed payments, the company's investment capacity has declined, and the investment in the Ordos data center has been postponed, failing to create synergies with Zhongshi Huasheng. Additionally, the acquisition has led to the departure of core employees, resulting in a decline in business development. To facilitate better development for both parties, the company has decided to sell its equity in Zhongshi Huasheng
