Hainan Xingyun Zhijian Enterprise Management Partnership acquired 3% stake in Guangzhou Junhai Network Technology Co., Ltd from Wolong Real Estate Group Co.,Ltd. for RMB 53.5 million.
January 24, 2021
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Hainan Xingyun Zhijian Enterprise Management Partnership acquired 3% stake in Guangzhou Junhai Network Technology Co., Ltd from Wolong Real Estate Group Co.,Ltd. (SHSE:600173) for RMB 53.5 million on January 25, 2021. Under terms, Hainan Xingyun Zhijian will pay RMB 25 million within five after signing the agreement and RMB 28.5 million within 20 days after the delivery date of underlying equity. The consideration shall be paid in cash. Post acquisition Wolong Real Estate Group Co.,Ltd. will hold 46% stake in Guangzhou Junhai Network Technology Co., Ltd. As of December 31, 2020 Guangzhou Junhai Network Technology reported total assets of RMB 467.9 million, net assets of RMB 227.3 million, As of January 23, 2021 the transaction was approved by Wolong Real Estate Group Co.,Ltd.
Hainan Xingyun Zhijian Enterprise Management Partnership completed the acquisition of 3% stake in Guangzhou Junhai Network Technology Co., Ltd from Wolong Real Estate Group Co.,Ltd. (SHSE:600173) on January 25, 2021.
Wolong Resources Group Co Ltd, formerly Wolong Real Estate Group Co Ltd, is a China-based company principally engaged in the development and sales of properties. The Company's projects are mainly situated in Wuhan, Qingyuan and Shaoxing. The Company is also engaged in property management business. The Company operates its businesses principally in East China, Middle China and South China. Through its subsidiaries, it is also involved in the property development and operation, hotel operation, as well as landscape construction, among others.
WOLONG RESOURCES GROUP CO., LTD. 
