Dragon King Global Limited cancelled the acquisition of a 51.03% stake in Beijing Daole Technology Development Co., Ltd. from Yang Guang Co.,Ltd..
March 07, 2020
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Dragon King Global Limited agreed to acquire a 51.03% stake in Beijing Daole Technology Development Co., Ltd. from Yang Guang Co.,Ltd. (SZSE:000608) for approximately CNY 170 million on March 8, 2019. The parties plan to sign the share transfer agreement. As at September 30, 2018, Beijing Daole Technology Development Co., Ltd. had total assets of CNY 542.5 million and net assets of CNY 294.3 million. The transaction was approved by the Board of Directors of Yang Guang Co.,Ltd. on March 8, 2019 and does not need shareholders' approval.
Dragon King Global Limited cancelled the acquisition of a 51.03% stake in Beijing Daole Technology Development Co., Ltd. from Yang Guang Co.,Ltd. (SZSE:000608) on March 8, 2020.
YANG GUANG CO., LTD. is a China-based company principally engaged in the development of residential real estate and the leasing of properties. The Company's principal products include the community commercial properties under the brand of Life, the regional shopping centers under the brand of iShineCity, as well as the city comprehensive properties under the brand of YangguangCenter. The Company mainly operates its investment real estate in Beijing, Tianjin and Shanghai, as well as some second-tier cities.
YANG GUANG CO.,LTD. 
