INFORMATION OF THE TARGET COMPANY. The Target Company is a limited liability company incorporated under the laws of the PRC on 30 December 2015. Upon completion of equity transfer under the equity transfer agreement as stipulated in the Second Previous Announcement, the Target Company is owned as to 5.17% by BEWG (China) Investment, 25.83% by XXX, 20% by CITIC Zhengye Investment Development Co., Ltd.* (中信正業投資發展有限公司), 29% by Vendor, 10% by Wuhan Lingang City Construction Investment Co., Ltd.* (武漢臨港城鎮建設投資有限公司) and 10% by Xxxxx Xxxxxxx Water Construction Engineering Co., Ltd.* (武漢市新洲區水工建築工程公司) respectively. The Target Company owns Xxxxx Xxxxxxx PPP projects in Wuhan. The Wuhan Xinzhou PPP projects include sewage lifting pumping station projects, Yanjia lake comprehensive improvement project, Chaibo lake pumping station reconstruction project, Wuhan Xingang Gulong industrial park sewage treatment plant and tailwater discharge project, Yangda Road widening and reconstruction project, Yangda Road open drainage and landscape engineering project. Set out below is a summary of certain audited financial information of the Target Company for the two years ended 31 December 2018 and 31 December 2019 prepared in accordance with the generally accepted accounting principles of the PRC: Net profit (before taxation) RMB15,452,408 (equivalent to approximately HK$18,228,000) RMB31,016,364 (equivalent to approximately HK$36,588,000) Net profit (after taxation) RMB12,563,216 (equivalent to approximately HK$14,820,000) RMB23,262,273 (equivalent to approximately HK$27,441,000) The audited net asset value of the Target Company was approximately RMB208,876,899 (equivalent to approximately HK$246,398,000) as at 30 June 2020. The Company is an investment company and the holding company of the Group. The Group is principally engaged in construction of sewage and reclaimed water treatment plants and seawater desalination plants, and provision of construction services for comprehensive renovation projects in the PRC, Malaysia and Australia and Republic of Botswana; provision of sewage and reclaimed water treatment services in the PRC, the Republic of Singapore, Portuguese Republic and Australia; distribution and sale of piped water in the PRC, Portuguese Republic and Australia; provision of technical and consultancy services and sale of machineries related to sewage treatment and construction services for comprehensive renovation projects in the PRC and Australia; and the licensing of technical know-how related to sewag...
INFORMATION OF THE TARGET COMPANY. The Target Company is a company incorporated in Hong Kong with limited liability and is a wholly-owned subsidiary of the Company. The Target Company is an investment holding company, and its principal asset is 25% equity interest of the Project Company. As at the date of this announcement, the remaining 75% equity interest of the Project Company is owned by the Great Wall Film. The Project Company was established in the PRC on 1 February 2018 between the Target Company and Great Wall Film. The business scope of the Project Company includes, among others, the development and management of tourism projects, development, investment and advisory on real estate projects and sales of tourism products. For details on the Project Company, please refer to the circular of the Company dated 8 December 2017. The Project Company was formed for the development of the characteristic town in Wusu, Xinjiang Autonomous Region, the PRC (the “Wusu Characteristic Town”). However, as the Project Company was informed by the Wusu government that the pipeline works for the west-to-east natural gas transmission project（ 西氣東輸管線項目）will pass through the original project land of the Wusu Characteristic Town, the construction work for the Wusu Characteristic Town was suspended due to safety consideration. The Company understands that the Project Company has been liaising with the Wusu government for alternative sites for the development of Wusu Characteristic Town. However, there remains a high degree of uncertainty over when the development works for Wusu Characteristic Town may proceed. The Target Company had contributed RMB50,000,000 to the Project Company pursuant to the joint venture agreement entered into between the Target Company and the Great Wall Film. The Project Company is an associate company of the Group and its financial results have not been consolidated in the results of the Group and have been accounted for using the equity method. Immediately after the New Disposal, the Target Company will cease to be a subsidiary of the Company and the Group will cease to have any interest in the Target Company and the Project Company. Set out below is the financial information of the Target Company for the two years ended 31 December 2018 and 2019: For the year ended 31 December 2019 2018 Approximately Approximately HK$’000 HK$’000 (unaudited) (audited) Revenue – – Loss before taxation 1,022 5,215 Loss after taxation 1,022 5,215 The unaudited net assets of the Target Company as at 3...
INFORMATION OF THE TARGET COMPANY. The Target Company is a company established under the laws of Singapore with limited liability and is principally engaged in providing (i) enterprise SaaS Suite for the online food and delivery businesses; and (ii) food delivery enablement platform to help physical restaurant sector build virtual brands. To the best of the knowledge, information and belief of the Directors of the Company having made all reasonable enquiries, the Target Company and its ultimate beneficial owners are third parties independent of the Company and its connected persons (as defined under the Rules Governing the Listing of Securities on the GEM of The Stock Exchange of Hong Kong Limited).
INFORMATION OF THE TARGET COMPANY. The Target Company is a company incorporated in the BVI with limited liability and an indirect wholly-owned subsidiary of the Company. The Target Company is principally engaged in property development and investment in the United Kingdom. As at the date of this announcement, the Project Company has no operation, other than holding the Target Property. The Target Property is Boundary House located at 0–00 Xxxxx Xxxxxx, Xxxxxx, which is an office building with a net internal floor area of approximately 45,062 square feet, which comprises a ground floor and seven upper floors, basement storage and 7 car park spaces. The table below sets forth a summary of the audited financial information of the Target Company (prepared in accordance with the International Financial Reporting Standards) for the two years ended 31 December 2018 and 31 December 2019. For the year ended 31 December 2018 For the year ended 31 December 2019 GBP GBP Revenue 1,062,865 1,231,832 (Loss)/Profit before taxation (17,977) 5,127,350 (Loss)/Profit after taxation (17,977) 5,127,350 The unaudited net liability of the Target Company as at 30 November 2020 was GBP616,461.
INFORMATION OF THE TARGET COMPANY. The Target Company is a limited liability company incorporated under the laws of the PRC on 30 December 2015 and is owned as to 51% by Vendor, 29% by Beijing Orient Landscape Environmental Co., Ltd.* (北京東方園林環境股份有限公司), 10% by Xxxxx Xxxxxxx City Construction Investment Co., Ltd.* (武漢臨港城鎮建設投資有限公司) and 10% by Xxxxx Xxxxxxx Water Construction Engineering Co., Ltd.* (武漢市新洲區水工建築工程公司) respectively. The Target Company owns Xxxxx Xxxxxxx PPP projects in Wuhan. The Wuhan Xinzhou PPP projects include sewage lifting pumping station projects, Yanjia lake comprehensive improvement project, Chaibo lake pumping station reconstruction project, Wuhan Xingang Gulong industrial park sewage treatment plant and tailwater discharge project, Yangda Road widening and reconstruction project, Yangda Road open drainage and landscape engineering project. Set out below is a summary of certain audited financial information of the Target Company for the two years ended 31 December 2018 and 31 December 2019 prepared in accordance with the generally accepted accounting principles of the PRC: Net profit (before taxation and extraordinary items) RMB15,452,408 (equivalent to approximately HK$17,615,604) RMB31,016,364 (equivalent to approximately HK$35,358,372) Net profit (after taxation and extraordinary items) RMB12,563,216 (equivalent to approximately HK$14,321,952) RMB23,262,273 (equivalent to approximately HK$26,518,779) The audited net asset value of the Target Company was approximately RMB208,876,899 (equivalent to approximately HK$238,117,760) as at 30 June 2020. The Company is an investment company and the holding company of the Group. The Group is principally engaged in construction of sewage and reclaimed water treatment plants and seawater desalination plants, and provision of construction services for comprehensive renovation projects in the PRC, Malaysia and Australia and Republic of Botswana; provision of sewage and reclaimed water treatment services in the PRC, the Republic of Singapore, Portuguese Republic and Australia; distribution and sale of piped water in the PRC, Portuguese Republic and Australia; provision of technical and consultancy services and sale of machineries related to sewage treatment and construction services for comprehensive renovation projects in the PRC and Australia; and the licensing of technical know-how related to sewage treatment in the PRC. BEWG (China) Investment is a company incorporated in the PRC with limited liability and is wholly-owned by the ...
INFORMATION OF THE TARGET COMPANY. The Target Company is established on 17 July 2015 as a sino-foreign joint venture with limited liability in the PRC. It is principally engaged in the research and manufacturing of touch user interface (TUI) material and products, as well as provision of TUI solutions. For further information of the Target Company, please refer to its website at xxxxx://xxx.xxxx-xxxx.xxx/. Set out below is the audited financial information of the Target Company for the year ended 31 December 2020 and the unaudited financial information of the Target Company for the year ended 31 December 2021, prepared based on the generally accepted accounting principles of the PRC: Net profits/(loss) before taxation (29,687) (78,921) Net profits/(loss) after taxation (25,678) (73,522) Based on the unaudited financial information of the Target Company prepared based on the generally accepted accounting principles of the PRC, as of 31 December 2021, the total asset value and net asset value of the Target Company were approximately RMB267,880,000 and RMB106,098,000 respectively.
INFORMATION OF THE TARGET COMPANY. The Target Company is a private company incorporated under the laws of Hong Kong with limited liability and is principally engaged in investment holding. As at the date of this announcement, the Target Company owns: (i) the entire equity interest in Yunnan Zhenmao Enterprise Management Co., Ltd.* (雲南振緬企業管理有限公司), a private company established under the laws of the PRC with limited liability; (ii) 49% of the entire equity interest in Yunnan Yuntou Zhenhao Energy Co., Ltd.* (雲南雲投振戎能源有限公司), a private company established under the laws of the PRC with limited liability; and
INFORMATION OF THE TARGET COMPANY. As at the date of this announcement, the equity interest in the Target Company is owned as to 60% by the Purchaser and as to 40% by the Vendor. The Target Company is principally engaged in investment holding. As at the date of this announcement, the principal investment of the Target Company is 35% equity interest in Shenzhen Zhaosheng. Shenzhen Zhaosheng is a company with limited liability established under the laws of the PRC on 1 June 2007 with registered capital of RMB10,000,000 (equivalent to approximately HK$11,300,000) and principally engaged in two property redevelopment projects in Shenzhen, the PRC as at the date of this announcement. Further details of Shenzhen Zhaosheng are disclosed in the announcements of the Company dated 9 February 2015, 10 February 2015 and 31 July 2015 respectively. The following table summarises the unaudited financial results of the Target Company (prepared in accordance with the PRC GAAP) for (i) the financial year ended 31 December 2015; and (ii) the financial year ended 31 December 2016 respectively: Turnover 0 0 Loss before taxation 10,701 538,477 Loss after taxation 10,701 538,477 Based on the unaudited account of the Target Company made up to 31 December 2016 (prepared in accordance with the PRC GAAP), the unaudited net assets value of the Target Company as at 31 December 2016 was approximately RMB448,950 (equivalent to approximately HK$507,314).
INFORMATION OF THE TARGET COMPANY. The Target Company is a company established in the PRC with limited liability. It is an e-Paper material supplier equipped with advanced flexible display technology (柔性顯示技術) and other e-Paper display technologies. As at the date of this announcement, the Target Company is owned as to approximately 50.87% by OED Holding Limited. No other shareholders of the Target Company hold more than 10% of the issued shares of the Target Company as at the date of this announcement. To the best of the Directors’ knowledge, information and belief having made all reasonable enquiry, the Target Company, the other existing shareholders (other than the Vendor) of the Target Company, and their respective ultimate beneficial owners are Independent Third Parties as at the date of this announcement. The table below sets out certain unaudited financial information of the Target Company for the years ended 31 December 2020 and 2021: For the year ended 31 December 2021 (unaudited) RMB’000 2020 (unaudited) RMB’000 Revenue 46,874.6 7,294.3 Net loss before taxation 16,661.5 14,344.4 Net loss after taxation 16,661.5 14,344.4 As at 31 August 2022, the unaudited net assets of the Target Company amounted to approximately RMB169.6 million.
INFORMATION OF THE TARGET COMPANY. The Target Company is a corporation incorporated in New York which is principally engaged in the business of providing new construction, modernization, repair and maintenance services in the vertical transportation sector for both residential and commercial real estate customers. The original acquisition cost of the Sale Shares paid by the Seller was approximately US$1.4 million (equivalent to approximately HK$10.92 million). Based on the audited financial statements of the Target Company for the year ended 31 December 2019 prepared in accordance with GAAP, the net asset value of the Target Company as at 31 December 2019 was approximately US$16.6 million (equivalent to approximately HK$129.5 million). Some of the financial data of the Target Company as extracted from its financial statements prepared in accordance with GAAP is set out below: Profit before taxation 3.2 10.5 Profit after taxation 3.6 10.2 The Directors do not expect to recognise any gain/loss from the Disposal. Shareholders should note that the actual amount of gain/loss on the Disposal to be recorded by the Company (if any) will be subject to review by the auditors of the Company. The Group currently intends to use the net proceeds from the Disposal for the general working capital of the Group. Upon Completion, the Target Company will cease to be a subsidiary of the Company and the financial results of the Target Company will no longer be consolidated with the results of the Group thereafter.
