Jiangsu Zhongchao Holding Co., Ltd. agreed to acquire Yixing Zhongchao Logistics Service Co., Ltd. from Jiangsu Zhongchao Investment Group Co., Ltd. for CNY 80.1 million.
January 22, 2021
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Jiangsu Zhongchao Holding Co., Ltd. (SZSE:002471) agreed to acquire Yixing Zhongchao Logistics Service Co., Ltd. from Jiangsu Zhongchao Investment Group Co., Ltd. for CNY 80.1 million on January 21, 2021. within 5 working days from the date when the ownership change of industrial land [(2008) No. 8000069] is completed, CNY 36.15 million should be paid for the equity transfer; Within 5 working days from the date of ownership change of the dormitory building No. 1 ( 1000060234), the equity transfer payment CNY 9.1854 million shall be paid; within 5 working days after the completion of the dormitory building No. 2 (1000060235) ownership change, the equity transfer payment CNY 12.1022 million shall be paid; within 5 working days from the date when the ownership certificate of the auditorium is completed, the equity transfer payment CNY 3.7093 million shall be paid; within 5 working days from the date when the comprehensive service center ownership certificate is completed, the equity transfer payment CNY 14.992 million shall be paid; after the completion of the above-mentioned asset ownership (change) certificate, the remaining equity transfer payment CNY 3.9812 million shall be paid. As of December 31, 2020, Yixing Zhongchao Logistics Service Co., Ltd. reported total assets of CNY 57.97 million, net assets of CNY 57.93 million, revenue of CNY 0 and net loss of CNY 0.07 million. The transaction was reviewed and approved by the board of directors of Jiangsu Zhongchao Holding Co., Ltd. on the 41st meeting of the fourth directorate held on January 21, 2021. On February 9, 2021, Jiangsu Zhongchao Holding Co., Ltd. held the first meeting of the fifth board of directors to deliberate and pass the "Proposal on Signing the Supplementary Agreement to the Share Transfer Agreement and Related Transactions"
Jiangsu Zhongchao Holding CO., LTD., formerly Jiangsu Zhongchao Cable CO., LTD., is a China-based company, principally engaged in the research and development, manufacture and distribution of electric wires and cables, as well as the provision of related services. The Company mainly provides power cables, electric wires and cables for electrical equipment, bare wires, cable materials, cable connectors, magnet wires, metal materials and teapots and fittings. The Company distributes its products within domestic market and to overseas markets.
Jiangsu Zhongchao Holding Co., Ltd. agreed to acquire Yixing Zhongchao Logistics Service Co., Ltd. from Jiangsu Zhongchao Investment Group Co., Ltd. for CNY 80.1 million.