Changyu Water Investment & Divestment Co., Ltd. cancelled the acquisition of 46.84% stake in Hubei Chaibuxi Tourism Co., Ltd. from Wuhan Sante Cableway Group Co., Ltd..
April 31, 2021
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Changyu Water Investment & Divestment Co., Ltd. signed a share transfer agreement to acquire a 46.84% stake in Hubei Chaibuxi Tourism Co., Ltd. from Wuhan Sante Cableway Group Co., Ltd. (SZSE:002159) for approximately CNY 110 million on April 1, 2020. For the year ended December 31, 2019, Hubei Chaibuxi Tourism had total assets of CNY 160.12 million, net assets of CNY 90.23 million, revenues of CNY 6.45 million, operating loss of CNY 7.68 million and net loss of CNY 7.68 million. At the 29th session of Wuhan Sante Cableway’s 10th directorate, the Board of Directors approved the transaction. The transaction is subject to be approval by Wuhan Sante Cableway’s shareholders.
Changyu Water Investment & Divestment Co., Ltd. cancelled the acquisition of 46.84% stake in Hubei Chaibuxi Tourism Co., Ltd. from Wuhan Sante Cableway Group Co., Ltd. (SZSE:002159) on April 1, 2021.
Wuhan Sante Cableway Group Co Ltd is a China-based company principally engaged in the operation of tourism business. The Company's business activities include the operation of sightseeing ropeways in scenic areas, the operation of tourist attractions and the sale of tickets, the operation of hotel and catering business, travel agency business and scenic tourist coach business. The Company also involves in real estate business. The Company operates its business in domestic market.
Changyu Water Investment & Divestment Co., Ltd. cancelled the acquisition of 46.84% stake in Hubei Chaibuxi Tourism Co., Ltd. from Wuhan Sante Cableway Group Co., Ltd..