INFORMATION ON THE GROUP AND THE PARTIES. The Company is an investment holding company, and the Group is principally engaged in the manufacture and sale of casings for notebook computer and handheld devices. The Contractor is principally engaged in the provision of design and building services in industrial and civil construction headquartered in Vietnam and its ultimate beneficial owners are Xx Xxx Xxxx (黎英雄), Xxxx Xxxx Xxx (陳玉新), Xxxxxx Xxxx Xxxx (阮孟雄) and Xx Xxx Xxxx (黎英勇). The Directors confirmed that, to the best of their knowledge, information and belief, having made all reasonable enquiries, the Contractor and its ultimate beneficial owners are third parties independent of the Company and its connected persons. LISTING RULES IMPLICATIONS Pursuant to Rule 14.23 of the Listing Rules, the transaction contemplated under the Second Construction Agreement shall be aggregated with that under the First Construction Agreement since both were entered into by the Group with the same party in relation to the Vietnam Production Plant. As the highest relevant percentage ratio as defined under Rule 14.07 of the Listing Rules in respect of the Construction Agreements, exceeds 5% but is less than 25%, the transactions contemplated under the Construction Agreements constitute discloseable transactions of the Company under Chapter 14 of the Listing Rules and are subject to the reporting and announcement requirements under the Listing Rules.
INFORMATION ON THE GROUP AND THE PARTIES. (i) The Group The Group is principally engaged in (i) the manufacturing and sale of aluminium products; and (ii) sale of completed properties.
INFORMATION ON THE GROUP AND THE PARTIES. The Group mainly focuses on the management and operations of car parking assets and the management of private funds that are oriented towards urban redevelopment. Xxxxxx Xxxxx, a wholly-owned subsidiary of the Company, is a company established in the PRC with limited liability and is principally engaged in business management, consulting and planning. Vstartup, the equity interest of which is held as to approximately 24.19% by Jingxi Venture, a subsidiary of the Company and approximately 20.56% by Shougang Fund, is a company established in the PRC with limited liability and is principally engaged in investment and property management, motor vehicle public parking lot services and technology development. Micro Parking, which is wholly owned by Vstartup, is a company established in the PRC with limited liability and is principally engaged in motor vehicle public parking lot management and technology development. IMPLICATIONS UNDER THE LISTING RULES As at the date hereof, Shougang Group indirectly holds approximately 36.75% of the issued Shares and is a connected person of the Company. Shougang Fund is a wholly-owned subsidiary of Shougang Group and indirectly holds approximately 13.26% of the issued Shares, and hence a connected person of the Company. Jingxi Venture, a subsidiary of the Company, and Shougang Fund are both shareholders, holding approximately 24.19% and 20.56% equity interest respectively, of Vstartup. Therefore Vstartup is a commonly held entity falling within the meaning of Rule 14A.27 of the Listing Rules. Hence, the granting of the Credit Facility by Xxxxxx Xxxxx to Vstartup’s wholly-owned subsidiary, Micro Parking, and the provision of guarantee by Vstartup under the Loan Agreement in aggregate constitute a connected transaction of the Company pursuant to Rule 14A.26 of the Listing Rules. Given that one or more of the applicable percentage ratios are more than 0.1% but all are less than 5%, the entering into of the Loan Agreement and the transactions contemplated thereunder (including the granting of the Credit Facility) is subject to announcement and reporting requirements but is exempt from independent Shareholders’ approval requirement under Chapter 14A of the Listing Rules.
INFORMATION ON THE GROUP AND THE PARTIES. The Group is principally engaged in the financial services sector, including the provision of securities brokerage services, the provision of insurance brokerage and financial planning services, the provision of corporate finance advisory services, trading of securities, provision of finance, as well as investment holding. The Subscriber is a direct wholly-owned subsidiary of Forefront and is an investment holding company. Forefront and its subsidiaries are principally engaged in the provision of logistic services in Hong Kong and the PRC; properties investments; securities trading and money lending business. LISTING RULES IMPLICATIONS Following the Completion, the equity interests of the Group in FCL will be diluted from approximately 65.19% to approximately 60.52% and FCL will continue as an indirect non-wholly owned subsidiary of the Company. The Subscription will constitute a deemed disposal of the Group’s equity interest in FCL under Chapter 14 of the Listing Rules. As the highest of the applicable percentage ratios (as defined under the Listing Rules) in respect of the Subscription exceeds 25% but is not more than 75%, the Subscription constitutes a major transaction of the Company and is therefore subject to the notification, announcement and shareholders’ approval requirements under Chapter 14 of the Listing Rules. Accordingly, the Company will seek Shareholders’ approval at the EGM by way of poll for the Subscription Agreement and the transactions contemplated therein. As at the date of the Subscription Agreement, the Company, through an indirect wholly-owned subsidiary, held 71,623,106 shares of Forefront, and Ms. Au Xxxx Xxx, Xxx (“Ms. Au”), an executive Director of the Company and Xx. Xxxxxx Wing Ping (“Xx. Xxxxxx”), an independent non-executive Director of the Company, respectively held 2,150,000 shares and 2,590,000 shares of Forefront, representing approximately 9.90%, 0.30% and 0.36% respectively of its total issued share capital. Forefront (the holding company of the Subscriber), either itself or through its subsidiary, held 2,168,000 Shares representing approximately 0.32% of the total issued share capital of the Company. Saved as disclosed, to the best of the Directors’ knowledge, information and belief after having made all reasonable enquiry: (i) the Subscriber and its ultimate beneficial owners are third parties independent of the Company and connected persons of the Company; and (ii) no Shareholder has a material interest in the Subs...
INFORMATION ON THE GROUP AND THE PARTIES. The Company is an investment holding company, and the Group is principally engaged in the manufacture and sale of casings for notebook computer and handheld devices. The Local Authority is responsible for, among others, formulating and organising the implementation of the economic and social development plans and administrative regulations of the Wujiang Economic and Technological Development Zone, and administering centralised land planning and management. Huaying Wujiang is ultimately owned as to 100% by the Local Authority and, according to its business license, is permitted to engage in, among others, flat-panel displays, notebook computers, LCD televisions and modules manufacturing, repair and sale, provision of management and technical consulting services, and rentals of non-residential property. The Directors confirmed that, to the best of their knowledge, information and belief, having made all reasonable enquiries, Huaying Wujiang, the Local Authority and its ultimate beneficial owners are third parties independent of the Company and its connected persons. LISTING RULES IMPLICATIONS Xxxxxxx Xxxxxxx is ultimately owned as to 100% by the Local Authority. Pursuant to Rule 14.23 of the Listing Rules, the transactions contemplated under the Resumption Agreements shall be aggregated since they are all entered into by the Group with the same party or with parties connected or otherwise associated with one another in relation to the resumption of land and property within the Wujiang District. As the highest relevant percentage ratio as defined under Rule 14.07 of the Listing Rules in respect of the transactions contemplated under the Resumption Agreements, when aggregated together, is more than 25% but less than 75%, the transactions contemplated under Resumption Agreements in aggregate constitute a major transaction of the Company under Chapter 14 of the Listing Rules and is subject to the reporting, announcement, circular and Shareholders’ approval requirements under Chapter 14 of the Listing Rules. The Resumption Agreements will be subject to the approval by Shareholders at the EGM. The EGM will be held by the Company for the Shareholders to consider, and if thought fit, pass the resolutions to approve each of the Resumption Agreements and the transactions contemplated thereunder. A circular containing, among other things, (i) details of the resumption under the Resumption Agreements; (ii) a property valuation report in respect of the properties propos...
INFORMATION ON THE GROUP AND THE PARTIES. The Group The Group is principally engaged in the exploitation of mineral resources, the mining and processing of mineral ores and the trading of metal products. Xxxx Metal Xxxx Metal is a limited liability company established in the PRC and principally engaged in mining and processing of mineral ores and trading of metal concentrates. It is indirectly held as to 95.35% by the Company and is a non-wholly owned subsidiary of the Company.
INFORMATION ON THE GROUP AND THE PARTIES. The Company is an investment holding company, and the Group is principally engaged in the manufacture and sale of casings for notebook computer and handheld devices. HTDC is principally engaged in real estate activities and its ultimate beneficial owner is Xxxxx Xxx Xxxxx, who is interested in approximately 77.96% of the equity interest of HTDC. The Directors confirmed that, to the best of their knowledge, information and belief, having made all reasonable enquiries, HTDC and its ultimate beneficial owners are third parties independent of the Company and its connected persons. LISTING RULES IMPLICATIONS Under the Dongxu Transfer Agreement, the value of the right-of-use asset recognized by the Group in relation to Returned Lot B3 is approximately USD1,072,000, equivalent to approximately VND26,258,640,000 or approximately HK$8,372,000. Pursuant to Rule 14.23 of the Listing Rules, the transaction contemplated under the Transfer Agreement (as amended by the Supplemental Agreement and taking into account the Infrastructure Usage Fee Compensation Agreement) shall be aggregated with that under the Dongxu Transfer Agreement since they were all entered into by the Group with the same party in relation to the acquisition of land use rights over the Land. As the highest relevant percentage ratio as defined under Rule 14.07 of the Listing Rules in respect of the Dongxu Transfer Agreement aggregated with the Transfer Agreement (as supplemented by the Supplemental Agreement and taking into account the Infrastructure Usage Fee Compensation) calculated based on the value of the right-of-use asset recognised by the Group according to HKFRS16 exceeds 5% but is less than 25%, the transactions contemplated under the Transfer Agreement (as supplemented by the Supplemental Agreement and taking into account the Infrastructure Usage Fee Compensation) and Dongxu Transfer Agreement therefore constitute discloseable transactions of the Company under Chapter 14 of the Listing Rules and is subject to the reporting and announcement requirements under the Listing Rules.
INFORMATION ON THE GROUP AND THE PARTIES. TO THE LOAN AGREEMENT The Company is an investment holding company incorporated in the Cayman Islands with limited liability. The Group is an independent axle component provider for the PRC’s medium duty truck (“MDT”) and heavy duty truck (“HDT”) aftermarket, and also an independent axle assembly providers for the PRC’s MDT and HDT original equipment manufacturers (“OEM”) market. The Group is engaged in the manufacture and sales of axle assemblies and axle components in the PRC. Since the first quarter of 2015, the Group, through the Company’s acquisition of 51% equity interest in Century Network on 25 March 2015, is also engaged in electronic commerce business through a cross-border business-to- business electronic distribution platform and in sourcing, importing and channeling authentic goods from suppliers abroad and then distributing and reselling such goods to domestic retailers in the PRC. Fujian Changfeng is a company established in the PRC with limited liability and is a wholly-owned subsidiary of the Company. Fujian Changfeng and its subsidiaries are principally engaged in the manufacturing and selling of axles and related components in the PRC. Beijing Shiji Xinganxian is a company established in the PRC with limited liability and is a wholly- owned subsidiary of Century Network, which is currently owned as to 51% by the Company. Century Network is part of a corporate group which started their electronic commerce business in May 2013 through the establishment of a cross-border business-to-business electronic distribution platform, XXXXXXXX.xxx. It is also engaged in sourcing, importing and channeling authentic goods from suppliers abroad, and then distributing and reselling such goods to domestic retailers in the PRC.
INFORMATION ON THE GROUP AND THE PARTIES. 1. Information on the Group The Company was established under the laws of the PRC as a joint stock limited company with limited liability and its H shares are listed on the Stock Exchange. The Group is principally engaged in travel service business. GVTG is a company established in the PRC with limited liability and a wholly-owned subsidiary of the Company. It is principally engaged in automobile transportation and auxiliary services.
INFORMATION ON THE GROUP AND THE PARTIES. The Group is principally engaged in the financial services sector, including the provision of securities brokerage services, the provision of insurance brokerage and financial planning services, the provision of corporate finance advisory services, trading of securities, provision of finance, as well as investment holding. The Subscriber is a direct wholly-owned subsidiary of DIL and is an investment holding company. DIL and its subsidiaries are principally engaged in the production and sale of health care and pharmaceutical products, money lending, trading of wines and securities investment. LISTING RULES IMPLICATIONS Following the Completion, the equity interests of the Group in FCL will be diluted from approximately 68.4% to approximately 65.2% and FCL will continue as an indirect non-wholly owned subsidiary of the Company. The Subscription will constitute a deemed disposal of the Group’s equity interest in FCL under Chapter 14 of the Listing Rules. As the applicable percentage ratios (as defined under the Listing Rules) in respect of the Subscription exceed 5% but are not more than 25%, the Subscription constitutes a discloseable transaction of the Company under Chapter 14 of the Listing Rules. As at the date of the Subscription Agreement, the Company, through an indirect non-wholly owned subsidiary, held 52,760,000 shares of DIL, representing approximately 4.979% of the total issued share capital of DIL. Saved as disclosed, to the best of the Directors’ knowledge, information and belief after having made all reasonable enquiry, the Subscriber and its ultimate beneficial owners are third parties independent of the Company and connected persons of the Company. As the Completion is conditional upon satisfaction of the conditions precedent as set out under the section headed “Conditions Precedent” in this announcement, the Subscription may or may not proceed. Shareholders and potential investors should exercise caution when dealing in the Shares.
