INFORMATION ABOUT THE TARGET GROUP Sample Clauses

INFORMATION ABOUT THE TARGET GROUP. The Target Group is principally engaged in securities trading and investment holding. The First Target Company is a company incorporated in the BVI and a direct wholly-owned subsidiary of the Vendor. As at the date of this announcement, other than holding approximately 9.54% shareholding in the Second Target Company (assuming that none of the Convestible Note is converted into Converision Shares), the First Target Company does not have any other material assets. The Second Target Company is a company incorporated in the BVI and a non wholly-owned subsidiary of the Vendor. As at the date of this announcement, the Second Target Company carries on its principal business of securities trading and investment holding through its wholly-owned subsidiary, namely High Rhine Limited, which is also a company incorporated in the BVI. Prior to Completion, the Target Companies together with High Rhine Limited are subsidiaries of the Company. As the Target Companies are companies incorporated in the BVI, no separate audited financial statements have been prepared by the Target Companies as permitted under the laws of the BVI. Moreover, the Disposal Transaction is effectively the Group’s disposal of approximately 52.69% shareholding in the Second Target Company (assuming that none of the Convertible Note is converted into Conversion Shares). Financial information of the Second Target Company’s consolidated profitability for the two years ended 31 December 2014 and 2015 based on its unaudited consolidated financial statements (the figures of which have constituted part of the Group’s audited consolidated results for the year ended 31 December 2015 announced on 21 March 2016) is set out below: For the year ended 31 December 2015 2014 HK$’000 HK$’000 Net profit/(loss) before tax (77,411) 71,561 Net profit/(loss) after tax (77,674) 71,561 Based on the latest unaudited financial statements of the Second Target Company, the carrying value of unaudited net assets of the Target Group as at 1 January 2016 was approximately HK$2,192 million. As the Group holds approximately a total of 52.69% shareholding (direct and indirect) in the Second Target Company, the share of the carrying value of unaudited net assets of the Target Group as at 1 January 2016 attributable to the Company’s equity holders was approximately HK$1,155 million. Upon Completion, each of the Target Companies and High Rhine Limited held by the Second Target Company will cease to be a subsidiary of the Company and th...
Sample 1
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INFORMATION ABOUT THE TARGET GROUP. The Target Company is a company incorporated in the British Virgin Islands with limited liability. Sunsea Land is a company incorporated in Hong Kong and wholly owned by the Target Company. The Target Group is in the process of reorganisation and is expected to be comprised the Target Company, Sunsea Land and Sunsea Yacht Club. As at the date of this announcement, the Target Company, Sunsea Land and Sunsea Yacht Club have been duly incorporated. Upon the completion of the reorganisation, the issued share capital of Sunsea Yacht Club will be indirectly and wholly owned by the Target Company. The Target Group will principally engage in the operation of the China Aerospace-Themed Tourism Township Project through Sunsea Yacht Club. The China Aerospace-Themed Tourism Township Project is the first interactive, intelligent and whole- region aerospace-themed tourism town in China, which was strategically planned and jointly developed by Guangdong Sunsea Yacht Club Company Limited and China Academy of Space Technology (Space Fifth Institute（ 航天五院）). Located in Shenwan Town, Zhongshan City, Guangdong province with a total site area of 800,000 square meters, the project is a key development project by the governments of Guangdong province and Zhongshan City. The project comprises three major sectors, including Shenzhou Aerospace Park, Outlet Town and Space Agricultural Park. Xx. Xxxx Xxxx Xxxx（ 黃鴻照）(“Xx. Xxxx”) is the current Chairman of Sunsea Yacht Club and is responsible for managing the entire China Aerospace-Themed Tourism Township Project. Xx. Xxxx graduated from South China Normal University in 1984. He was elected as a deputy mayor of Sanxiang Town, Zhongshan City People’s Government in 1986 and as a deputy party secretary of Sanxiang Town, Zhongshan City in 1989. He successfully led Sunsea Yacht Club to enter into the China Aerospace- Themed Park Cooperation Agreement (《中國航天主題樂園合作協議》) with the Beijing Space Science and Technology Information Institute（ 北京空間科技信息研究所）in Beijing Diaoyutai State Guesthouse on 5 March 2012. He launched the preliminary work of the project and pressed ahead the site selection, planning and design of the aerospace-themed park, being the first of its kind in the PRC and the only one in Guangdong. On 28 March 2015, he cordially invited the China Academy of Space Technology (the “Institute”) and the Government of Zhongshan City, Guangdong province (the “Zhongshan City Government”) to enter into the China (Zhongshan) Aerospace Town Coope...
Sample 1
INFORMATION ABOUT THE TARGET GROUP. The Target Company is a joint-stock company incorporated in the PRC with limited liability, the shares of which are quoted on the NEEQ (stock code: 837249). The Target Group is principally engaged in the provision of property management services in the PRC. FINANCIAL INFORMATION OF THE TARGET COMPANY The table below sets out the audited consolidated financial information of the Target Company for the three financial years ended 31 December 2019, which was prepared in accordance with the PRC accounting standards: For the financial year ended For the financial year ended For the financial year ended 31 December 2019 (audited) (approximately) 31 December 2018 (audited) (approximately) 31 December 2017 (audited) (approximately) RMB RMB RMB Turnover 470,433,067 417,004,537 245,660,537 Net profit before taxation 28,299,959 30,730,004 11,581,739 Net profit after taxation 23,086,778 22,488,701 10,218,759 The audited net asset value of the Target Company as at 31 December 2019 was approximately RMB123,376,289.
Sample 1
INFORMATION ABOUT THE TARGET GROUP. Fenglong is a company established under the laws of the PRC, and is indirectly wholly owned by the Company. The principal asset of Fenglong is its beneficial interest in the Property, located at Xxxxxxx Xxxxxx xx Xxxxxx Xxxxxxxx, Xxxxxxxx, xxx XXX. The Property occupies an aggregate site area of approximately 14,411 sq.m. with a total GFA of approximately 142,000 sq.m. The Property is expected to comprise high-rise office buildings with retail space and public car parks. The following information is a summary of the unaudited pro forma consolidated financial statements of the Target Group for the years ended 31 December 2010 and 2011: For the year ended 31 December (unaudited) RMB in thousands 2010 2011 Turnover – – Net profit before tax and extraordinary items (Note) 1,281,414 252,054 Net profit after tax and extraordinary items 961,060 189,035 Net asset 862,228 1,051,263 Note: The amounts mainly represent the changes in fair value of the Property, accounted for as investment properties held by the Group. The Target Group recorded an unaudited pro forma consolidated net asset value of approximately RMB1,050,050,000 as at 30 April 2012. As of the date of this announcement, Fenglong is held as to 44% by Xxxx Xxxxx, one of the Offshore Companies and an indirectly wholly owned subsidiary of the Group, and as to 56% by another wholly owned onshore subsidiary of the Group.
Sample 1
INFORMATION ABOUT THE TARGET GROUP. The Target is a company incorporated in the BVI with limited liability and principally engaged in investment holding. The Target owns 100% interest in Vax Limited, which is sole legal and beneficial owner of the copyright of the CETP. According to the proposed business model, the CETP’s customers can manage their accounts and trade carbon assets and carbon allowance via the CETP and the Group can then charge its customers a commission fee based on the amount of each transaction. The principal assets of the Target Group are the CETP and according to the 2018 Interim Report, no revenue was generated from the operations of the CETP for the six months ended 30 June 2018. As at 30 September 2018, the operations of the CETP had 3 staff only. Set out below is a summary of certain audited consolidated financial information of the Target for the years ended 31 December 2016 and 2017. For the year ended 31 December 2016 For the year ended 31 December 2017 HK$’000 HK$’000 (approximately) (approximately) Net loss before taxation 23,726 33,515 Net loss after taxation 23,726 33,515 The unaudited consolidated total asset value and net liabilities of the Target as at 30 September 2018 were approximately HK$74.3 million and approximately HK$116.0 million respectively.
Sample 1
INFORMATION ABOUT THE TARGET GROUP. The Target Company is a limited liability company established under the laws of the PRC and a joint venture of the Company. As at the date of this announcement, the Target Company is owned as to 30% by the Vendor A and 70% by the Vendor B. The Target Group is principally engaged in the provision of nutrition and health consultation services and the wholesale and retail of cosmetics and hygiene products in the PRC. The table below sets out the unaudited consolidated financial information of the Target Group for the financial year ended 31 December 2019 and the audited consolidated financial information of the Target Group for the financial year ended 31 December 2020 and the eight months ended 31 August 2021, which were prepared in accordance with the PRC accounting standards: For the eight months ended 31 For the financial year ended 31 For the financial year ended 31 August 2021 (audited) (approximately) December 2020 (audited) (approximately) December 2019 (unaudited) (approximately) RMB’000 RMB’000 RMB’000 Turnover 12,634 25,750 3,674 Net profit/(loss) before taxation (674) 2,325 (16,167) Net profit/(loss) after taxation 275 2,214 (15,467) The audited consolidated net asset value of the Target Group as at 31 August 2021 was approximately RMB26,602,000. FINANCIAL EFFECT OF THE DISPOSAL For illustration purpose only, upon Completion, the Group is expected to record an unaudited gain on the Disposal of approximately RMB1,019,000. Such gain is estimated based on differences between the gross proceeds from the Disposal and the carrying value of the Target Group as stated in the audited consolidated financial statements of the Company as at 31 August 2021. The actual amount of gain or loss as a result of the Disposal to be recorded by the Company will be subject to review and final audit by the auditor of the Company. The Company intends to apply the gross proceeds from the Disposal as general working capital and other expenses in relation to the ordinary course of business of the Group.
Sample 1
INFORMATION ABOUT THE TARGET GROUP. The Target Company is a joint-stock company incorporated in the PRC with limited liability, the shares of which are quoted on the NEEQ (stock code: 837249). The Target Group is principally engaged in the provision of property management services in the PRC. FINANCIAL INFORMATION OF THE TARGET COMPANY The table below sets out the audited consolidated financial information on the Target Company for the two financial years ended 31 December 2018, which was prepared in accordance with the relevant PRC accounting standards: For the financial year ended 31 December 2018 For the financial year ended 31 December 2017 (audited) (audited) (approximately) (approximately) RMB RMB Turnover 417,004,537 245,660,537 Net profit before taxation 30,730,004 11,581,739 Net profit after taxation 22,488,701 10,218,759 The unaudited net asset value of the Target Company as at 30 June 2019 was approximately RMB294,198,330.
Sample 1
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INFORMATION ABOUT THE TARGET GROUP. Target Company The Target Company is an investment holding company and was incorporated under the laws of Hong Kong. As at the date of this announcement, the Target Company was owned as to 52.69% by the Vendor and 47.31% by Xxxx Xx. The Company acquired its 52.69% interest in the Target Company in the following two stages:
Sample 1
INFORMATION ABOUT THE TARGET GROUP. The Target Company is a company established in the PRC in September 2017 with limited liability and the Target Group is principally engaged in the provision of business management and services. The capital contribution made by the Vendor to subscribe for the Target Shares upon the establishment of the Target Company was RMB5 million. The key financial information of the Target Group for each of the two years ended 31 December 2020 prepared in accordance with the China Accounting Standards for Business Enterprises is as follows: For the year ended 31 December 2019 (unaudited) Currency: RMB For the year ended 31 December 2020 (unaudited) Net profit/(loss) before taxation 13,952,082.84 (302,674.49) Net profit/(loss) after taxation 11,128,038.88 (379,684.12) The unaudited consolidated net assets of the Target Group as at 31 December 2020 were RMB13,578,931.58.
Sample 1

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