INFORMATION ON THE TARGET COMPANY. The Target Company is principally engaged in property management business. According to the financial statements of the Target Company which are prepared on a basis consistent with IFRS accounting standards, the unaudited net asset value of the Target Company for the two years ended 31 December 2018, 31 December 2019 and the eleven months ended 30 November 2020 was approximately RMB591,000, RMB3,750,000 and RMB9,925,000 respectively. Set out below are the financial information of the Target Company for the two years ended 31 December 2018, 31 December 2019 and the eleven months ended 30 November 2020 respectively: For the year ended 31 December For the eleven months ended 30 November 2018 2019 2020 unaudited unaudited unaudited RMB’000 RMB’000 RMB’000 Net profit/ (loss) before tax 1,557 3,296 7,265 Net profit/ (loss) after tax 1,557 3,159 6,175 INFORMATION ON THE PARTIES The Group The Group is principally engaged in the business of provision of property management services, community value-added services and value-added services to non-property owners in the PRC. The Target Company The Target Company is a company incorporated in the PRC with limited liability. As at the date of this announcement, a total of 10 property management projects are managed by the Target Company with approximately 3.3 million sq.m. of total contracted GFA. The Target Company mainly operates in Sichuan province of the PRC. The Sellers The Sellers are principally engaged in property management services business, who are also the ultimate beneficial owners of the Target Company.
INFORMATION ON THE TARGET COMPANY. The Target Company is principally engaged in property management business. According to the financial statements of the Target Company which are prepared on a basis consistent with CASSBE accounting standards, the unaudited net asset value of the Target Company for the two years ended 31 December 2019 and 31 December 2020 was approximately RMB4,612,546 and RMB8,132,099, respectively. Set out below are the financial information of the Target Company for the two years ended 31 December 2019 and 31 December 2020, respectively: For the year ended 31 December 2019 2020 unaudited unaudited RMB’000 RMB’000 Net profit/(loss) before tax 4,054 4,335 Net profit/(loss) after tax 3,363 3,520 INFORMATION ON THE PARTIES The Group The Group is principally engaged in the business of provision of property management services, community value-added services and value-added services to non-property owners in the PRC. The Target Company The Target Company is a company incorporated in the PRC with limited liability. As at the date of this announcement, a total of 8 property management projects are managed by the Target Company with approximately 1.83 million sq.m. of total contracted GFA. The Target Company mainly operates in Liaoning province of the PRC. The Seller The Seller is principally engaged in investment holding. LISTING RULES IMPLICATIONS As one of or more of the applicable percentage ratios (set out in Rule 14.07 of the Listing Rules) in respect of the Acquisition is more than 5% but all of them are less than 25%, the Acquisition constitutes a discloseable transaction of the Company under Chapter 14 of the Listing Rules, and is subject to the notification and announcement requirements but is exempt from Shareholders’ approval requirement under the Listing Rules. None of the Directors has a material interest in the Agreement and the transactions contemplated thereunder. Accordingly, the Directors are not required to abstain from voting on the relevant Board resolutions for approving the Acquisition.
INFORMATION ON THE TARGET COMPANY. The following is the financial information of the Target Company as extracted from its unaudited consolidated financial statements for the two years ended 31 March 2011 and 2012 and the unaudited financial statements for the 9 months period ended 31 December 2012: For the 9 months period ended 31 December For the year ended 31 March For the year ended 31 March 2012 2012 2011 Unaudited (HK$’000) Unaudited (HK$’000) Unaudited (HK$’000) Net loss before tax (20,585) (18,017) (14,654) Net loss after tax (20,585) (18,017) (14,654) Net liabilities (221,628) (205,473) (197,930) The Target Company holds 94% of the registered capital of Star-Lake Club which owns the Land Use Rights and the Hotel.
INFORMATION ON THE TARGET COMPANY. The Target Company is a company incorporated under the laws of the PRC with limited liability and is principally engaged in construction surveying and design, real estate operation and development consultancy, development of computer software technology, technology consultancy and urban planning. Shareholding structure of the Target Company The shareholding structure of the Target Company as at the date of this announcement 31% 0.33% 0.33% The Target Company Beijing Fengtai District Construction Municipal Design House* (北京市豐台區建築市政設計所) Beijing Yanwei Construction Design House* (北京市燕威建築設計院) Xxxxx Xxx （張越） Xxxxx Xxxx （張建）
INFORMATION ON THE TARGET COMPANY. The Target Company is a company established in the PRC on 29 May 2015 with a registered capital of RMB10,000,000. As at the date of this announcement, the Target Company held the Qixian Project and the Anyang Project through two wholly-owned subsidiaries, namely Qixian Subsidiary and Anyang Subsidiary, respectively. Based solely on the financial information provided by the Target Company, set out below is a summary of certain unaudited consolidated financial information of the Target Company for the two years ended 31 December 2015: For the year ended 31 December 2014 Consolidated net loss (before taxation) Consolidated net loss (after taxation) approximately RMB655,000 – approximately RMB655,000 – The Target Company had no consolidated net profit before tax and no consolidated net profit after tax for the financial year ended 31 December 2014 as it had not been established then. Pursuant to the unaudited consolidated financial statements of the Target Company as at 30 April 2016, the total assets and the net liabilities of the Target Company as at 30 April 2016 were approximately RMB202,226,000 and approximately RMB2,049,000 respectively. INFORMATION ON THE GROUP The principal business activity of the Company is investment holding. The Group is principally engaged in the investment, development, construction, operation and management of photovoltaic power plants and photovoltaic power-related businesses and the design, printing and sale of cigarette packages in the PRC. REASONS FOR AND BENEFITS OF THE COOPERATION FRAMEWORK AGREEMENT AND THE EQUITY TRANSFER AGREEMENT AND THE TRANSACTIONS CONTEMPLATED THEREUNDER As set out in the announcements of the Company dated 15 October 2015 and 16 October 2015, on 15 October 2015, another subsidiary of the Company entered into a cooperation agreement with the Target Company and certain other parties pursuant to which, among other things, that subsidiary had conditionally agreed to: (1) make certain pre-payment and
INFORMATION ON THE TARGET COMPANY. 3.1 As at the date of this Announcement, AF is the sole legal and beneficial owner of the Target Company, which is an investment holding company.
INFORMATION ON THE TARGET COMPANY. The Target Company was established on 12 November 2015 with a registered capital of RMB5,897.6 million. As at the date of this announcement, the Target Company is owned as to approximately 93.26% by the Subsidiary. The Target Company and its subsidiaries are principally engaged in the investment and development of photovoltaic power businesses, wind power businesses and clean heat supply businesses in the PRC. Changes to the shareholding of the Target Company before and after the Second Capital Increase are as follow: Shareholders Percentage of the existingshareholding Percentage of the shareholding immediately upon completion of the Second CapitalIncrease % % the Subsidiary 93.26 89.25 the First Investors (Note 1) – 天津市平安消費科技投資合夥企業（ 有限合夥） (Tianjin Ping An Consumption Technology Investment Partnership (Limited Partnership)*) 5.90 5.64 – 嘉興智精投資合夥企業（ 有限合夥） (Jiaxing Zhijing Investment Partnership (Limited Partnership)*) 0.40 0.38 – 嘉興智精恒錦投資合夥企業（ 有限合夥） (Jiaxing Zhijing Hengjin Investment Partnership (Limited Partnership)*) 0.33 0.32 – 嘉興智精恒睿投資合夥企業（ 有限合夥） (Jiaxing Zhijing Hengrui Investment Partnership (Limited Partnership)*) 0.11 0.11 Second Investor A (Note 1) – 1.07 Second Investor B – 3.23 Total 100.00 100.00 Note:
INFORMATION ON THE TARGET COMPANY. The Target Company is a company established in the PRC with limited liability. It is principally engaged in the manufacture of clothing, shoes, shoe materials, precision moulds, plastic products, high-class metal hardware products (not including plating) and sports products and research and development of the aforesaid related products; and wholesale of clothing, shoes, shoe materials (not including natural rubber), precision moulds, plastic products, high-class metal hardware products and sports products. Set out below are financial information of the Target Company as extracted from its unaudited financial statements prepared in accordance with Hong Kong Financial Reporting Standards for Private Entities for each of the two financial years ended 31 December 2013 and 2014 and for the six months ended 30 June 2015: Year ended 31 December 2013 Year ended 31 December 2014 Six months ended 30 June 2015 (Unaudited) RMB(million) (Unaudited) RMB(million) (Unaudited) RMB(million) Results (Loss) before tax (168) (82) (65) (Loss) after tax (168) (82) (65) As at 31 December 2013 As at 31 December 2014 As at 30 June 2015 (Unaudited) RMB(million) (Unaudited) RMB(million) (Unaudited) RMB(million) Assets and liabilities Total assets 285 221 128 Net asset 188 106 49 IMPLICATIONS UNDER THE LISTING RULES As certain of the applicable percentage ratios (as defined under the Listing Rules) in respect of the Agreement and the transactions contemplated thereunder exceed 5% but are less than 25%, the Disposal constitutes a discloseable transaction for the Company and is subject to the notification and announcement requirements under Chapter 14 of the Listing Rules.
INFORMATION ON THE TARGET COMPANY. The Target Company is a company limited by shares incorporated in the Republic of China ("ROC") on 26 January 2018. Its registration number is 55844216. It is mainly engaged in the provision of art outsourcing services. As at the date of this announcement, the entire issued and paid-up share capital of the Target Company is NTD35,000,000, comprising 3,500,000 ordinary shares (the "Sale Shares") each with a par value of NTD10. The Target Company is a 100% directly owned subsidiary of the Vendor, which is listed on the Taipei Exchange.
INFORMATION ON THE TARGET COMPANY. The Target Company is a company established in the PRC with limited liability and is an indirect non-wholly owned subsidiary of the Company as at the date of this announcement. The Target Company was incorporated on 29 August 2017 as the Group’s business platform on wind power businesses. It is principally engaged in the investment, development and operation of clean energy power-related projects, including wind power generation. Set out below is the shareholding structure of the Target Company as at the date of this announcement and immediately upon completion of the Target Equity Transfers: Shareholders As at the date of thisannouncement Immediately upon completion of the Target EquityTransfers % % approximately approximately the Purchaser 75.55 95.76 Great First 8.33 – Xxxxxx Xxxxxxx 4.17 – Super Bright 7.71 – Xxxxx Xxxxxx Xx (Note) 4.24 4.24 Total 100.00 100.00 Note: Tibet Chuang He is a general partnership established in the PRC and is principally engaged in the investment in the clean energy and wind power-related businesses and the provision of business management services. It is owned as to 99% interest by 范海江 (Xxx Xxxxxxxx*) and 1% interest by 李海鷹 (Xx Xxxxxxx*). To the best of the Directors’ knowledge, information and belief, having made all reasonable enquiries, Tibet Chuang He and its ultimate beneficial owners are Independent Third Parties. The table below sets forth certain unaudited financial information of the Target Company for the two years ended 31 December 2019 and 2020 (prepared under the Hong Kong Financial Reporting Standards):– For the year ended 31 December 2019 For the year ended 31 December 2020 (RMB’000) approximately (RMB’000) approximately Net profit before taxation 46,512 16,501 Net profit after taxation 45,574 17,467 The unaudited net asset value and total asset value of the Target Company as at 31 December 2020 (prepared under the Hong Kong Financial Reporting Standards) amounted to approximately RMB328.95 million and RMB4,958.15 million, respectively.
