Wuhan Fenglun Enterprise Management Consulting Partnership agreed to acquire 24.75% stake in Ningbo Oupai Yishehui International Trade Co., Ltd. from Hunan Friendship&Apollo Commercial Co.,Ltd. for RMB 8 million.
July 07, 2022
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Wuhan Fenglun Enterprise Management Consulting Partnership agreed to acquire 24.75% stake in Ningbo Oupai Yishehui International Trade Co., Ltd. from Hunan Friendship&Apollo Commercial Co.,Ltd. (SZSE:002277) for RMB 8 million on July 6, 2022. Ningbo Oupai Yishehui International Trade Co., Ltd. reported total assets of RMB414 million, Net assets of RMB118 million, Operating income of RMB912 million, net Loss of RMB 21.8 million for the year 2021.
Hunan Friendship&Apollo Commercial Co., Ltd. is a China-based company, principally engaged in commodity retailing business. The Company operates department stores and shops in Hunan province, China, including Friendship Shop, Spring, Friendship&Apollo Appliance and F&A Spring , among others, which deal with cosmetics, perfumes, household products, decorations, clocks and glasses, men's and women's apparels, accessories, knitted and textile products, footwear and hats, bags, children's apparels, toys, sports products, leisure products, stationeries, teas, pharmaceuticals, household electrical appliances, air conditioners, audio and video electronics, as well as communication devices, among others. Through its subsidiaries, it also engages in the household electrical appliance sales, hotel operation, as well as loan and guarantee businesses.