Xinyu Martian Investment Management Partnership Enterprise (Limited Partnership) and Wang Qi cancelled the acquisition of Beijing Mars era Network Technology Co., Ltd. from Baiyang Investment Group, Inc..
August 12, 2020
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Xinyu Martian Investment Management Partnership Enterprise (Limited Partnership) and Wang Qi signed an equity repurchase agreement to acquire Beijing Mars era Network Technology Co., Ltd. from Baiyang Investment Group, Inc. (SZSE:002696) for approximately CNY 470 million on August 13, 2019. The deal value is paid in cash. For the year ending 2018, Beijing Mars era Network Technology Co., Ltd. reported revenues of CNY 546.9 million and net profit of CNY 54 million. As of year 2018, Beijing Mars era Network Technology Co., Ltd. reported total assets of CNY 657.6 million and net assets of CNY 374.1 million. The transaction needs to be submitted to Baiyang Investment Group, Inc.'s shareholders meeting for deliberation, and the related shareholders need to abstain from voting on the proposal at the shareholders' meeting. On August 13, 2019, the 39th meeting of the third directorate held by Baiyang Investment Group, Inc. reviewed and approved the deal.
Xinyu Martian Investment Management Partnership Enterprise (Limited Partnership) and Wang Qi cancelled the acquisition of Beijing Mars era Network Technology Co., Ltd. from Baiyang Investment Group, Inc. (SZSE:002696) on August 13, 2020.
BAIYANG INVESTMENT GROUP, INC. is a China-based company principally engaged in the manufacture and distribution of feed and feed ingredients, as well as tilapia product processing. Its feed products mainly include fish feed products, shrimp feed products and livestock and poultry products, as well as fishmeal, fish oil and rice bran products. The Company is also engaged in education and culture business. The Company conducts its businesses in domestic and overseas markets.
Xinyu Martian Investment Management Partnership Enterprise (Limited Partnership) and Wang Qi cancelled the acquisition of Beijing Mars era Network Technology Co., Ltd. from Baiyang Investment Group, Inc..