Hubei Chutian Radio and Television Information Network Co., Ltd completed the acquisition of remaining 51% stake in Yunguang Internet Network Technology Co., Ltd. from Hubei Radio & Television Information Network Co., Ltd..
June 29, 2023
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Hubei Chutian Radio and Television Information Network Co., Ltd agreed to acquire remaining 51% stake in Yunguang Internet (Hubei) Network Technology Co., Ltd. from Hubei Radio & Television Information Network Co., Ltd. (SZSE:000665) for approximately CNY 130 million on April 21, 2023. Hubei Chutian Radio will pay CNY 50 million within 10 working days after the agreement signing and CNY 83.3203 million, before June 30, 2023. Post completion, Hubei Chutian Radio and Television Information Network Co., Ltd will hold 100% stake in Yunguang Internet (Hubei). Yunguang Internet had CNY 197.4492 million of net assets and CNY 446.1178 million of total assets, for the period March 31, 2023. Transaction is approved by Hubei Radio & Television Information Network's board and doesnât require shareholdersâ approval.
Hubei Chutian Radio and Television Information Network Co., Ltd completed the acquisition of remaining 51% stake in Yunguang Internet (Hubei) Network Technology Co., Ltd. from Hubei Radio & Television Information Network Co., Ltd. (SZSE:000665) on June 30, 2023.
Hubei Radio & Television Information Network Co., Ltd. is a China-based company principally engaged in the provision of integrated information services based on Community Antenna Television (CATV) broadband network. The Company mainly operates its businesses through digital television (TV), high definition interactive TV, broadband access, value-added services as well as TV plus Internet application services. The Companyâs value added services include data broadcasting, TV transport, medical TV, TV education, social security TV, smart TV bookstore, home entertainment, TV payment and TV shopping mall services, among others. The Company also provides private network services, industry information application construction services, public cultural services and telecom universal services. The Company mainly operates its business in Hubei Province, China.
Hubei Chutian Radio and Television Information Network Co., Ltd completed the acquisition of remaining 51% stake in Yunguang Internet Network Technology Co., Ltd. from Hubei Radio & Television Information Network Co., Ltd..