Shanghai Bacchus Limited Company agreed to acquire Shanghai Mogong Industrial Co., Ltd. from Shanghai Metersbonwe Fashion and Accessories Co., Ltd. (SZSE:002269) and Shanghai Banggou Information Technology Co., Ltd. for approximately CNY 450 million on March 9, 2021. Shanghai Bacchus Limited Company will complete with its own funds. As at December 31, 2020 Shanghai Mogong Industrial Co., Ltd. has total assets of CNY 251 million, owners equity of CNY 177.2 million, revenue of CNY 32 million and net loss of CNY 13.5 million. As of March 23, 2021, both parties completed the registration and filing procedures and the 6th session of the Shanghai Metersbonwe’s 5th directorate approved the transaction. Bacchus Liquor recently obtained the business license issued by the Market Supervision Administration of Shanghai. The company already received a portion of the share transfer price, amounting to approximately CNY 400 million. Shanghai Bacchus Limited Company completed the acquisition of Shanghai Mogong Industrial Co., Ltd. from Shanghai Metersbonwe Fashion and Accessories Co., Ltd. (SZSE:002269) and Shanghai Banggou Information Technology Co., Ltd. on March 23, 2021.