Tonghua Grape Wine Co.,Ltd agreed to acquire remaining 49% stake in Beijing Jiurunyuan E-commerce Co., Ltd. from Wu Yuhua and Chen Xiaoqi for approximately CNY 270 million.
March 22, 2021
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Tonghua Grape Wine Co.,Ltd (SHSE:600365) agreed to acquire remaining 49% stake in Beijing Jiurunyuan E-commerce Co., Ltd. from Wu Yuhua and Chen Xiaoqi for approximately CNY 270 million on March 23, 2021. Under the terms, the consideration will be paid in cash and debt. Beijing Jiurunyuan reported total assets of CNY 466.2 million and net assets of CNY 144.2 million for the year ended September 2020. The transaction is subject to approval from shareholders of Tonghua Grape. The transaction has been approved by the Board of Tonghua Grape.
TONGHUAGRAPE WINE CO.,LTD is a China-based company principally engaged in the manufacture and e-commerce platform sales of wines. The Company's wine products include ice wines, sweet wines, dry wines and grape spirits. The Company distributes its products mainly in the domestic markets, including northeastern China, northern China, eastern China, southern China and northwestern China.
Tonghua Grape Wine Co.,Ltd agreed to acquire remaining 49% stake in Beijing Jiurunyuan E-commerce Co., Ltd. from Wu Yuhua and Chen Xiaoqi for approximately CNY 270 million.
TONGHUA GRAPE WINE CO.,LTD 
