INFORMATION OF THE TARGET GROUP. The Target Group mainly consists of the Target Company and two operating subsidiaries, namely NSSW and NSSZ. The Target Company is an investment holding company incorporated in Hong Kong on 19 March 2004 and holds the entire shareholding interest in each of NSSW and NSSZ. The Target Group was acquired by Xx. Xx and his spouse at a total consideration of HK$31 million in 2016. NSSW was incorporated in Hong Kong on 3 November 2010 and is principally engaged in the trading of printing and packaging products businesses. NSSZ was established in Shenzhen on 1 December 2009 and is principally engaged in the manufacture and trading of printing and packaging products businesses. The manufacturing base of the Target Group, which is owned by NSSZ, is located in Shenzhen, with an aggregate gross floor area of approximately 18,100 sq.m. The manufacturing base is equipped with major automated manufacturing machines, including offset 5 and 6 colours printers and full rotary label press machine, hot stamping foil machine, paper bag forming machine, silk screening machine, die cutting/slotting machine, paper surface line-inpress machine, etc. The estimated maximum printing capacity of the manufacturing base is over 25,000 sheets of paper per-hour and the utilisation rate for the financial year ended 31 March 2019 is approximately 60-70%. The Target Group produces and sells various printed products, including paper packaging products (i.e. gift packages and container boxes with logo, brands and graphics), paper gift items (i.e. jewelry boxes, carrier bags, letter sets and other stationery and gift accessories), paper promotional materials (i.e. leaflet, manuals, catalogues and other promotional materials) and other various paper printed products. The Target Group’s customers generally provide the product design and/or specifications to the Target Group for quotation. Based on such product design and/or specifications, the Target Group provides product development, product engineering and printing solutions to the customers for consideration and then make prototypes or mock-up samples for customers’ review and confirmation. Upon the confirmation of sales orders by the customers, the Target Group sources raw materials and proceeds to manufacture the products for the customers. The Target Group implements stringent quality control measures to ensure the procurement and production process. The Target Group arranges third party logistics operators to collect raw materials, if no...
INFORMATION OF THE TARGET GROUP. Mind Light is a company incorporated under the laws of the British Virgin Islands. As at the date of this announcement, Mind Light is a wholly-owned subsidiary of the Company and is principally engaged in investment holding. Mind Light holds the entire equity interest in each of Perfect Ease, Shenzhen Pingfu, Guigang Sanitation and Guigang Medical; and 62% equity interest in Gansu Huayi. The unconsolidated financial information of Mind Light as extracted from its unaudited management accounts is summarised as follows: Net profit/(loss) before taxation (4) Net profit/(loss) after taxation (4) Total asset –
INFORMATION OF THE TARGET GROUP. Overview Financial information
INFORMATION OF THE TARGET GROUP. Proposed shareholding structure of the Target Group Information of the Target Company Information of Xxxxxxxx Xxxxxxxx, Send Free and Big Luck Exclusive advertising agent for a reputable PRC Web Portal and operating agent for the Hong Kong station of the Web Portal Business Model and Plan of Big Luck
INFORMATION OF THE TARGET GROUP. Target Company and its subsidiaries Business of the Target Group Licences and permits
INFORMATION OF THE TARGET GROUP. The Target Company has been incorporated in China for over 20 years and mainly produces radiators which are mainly in power transformers as cooling components. The Target Group has a diversified customer bases which include customers from China, Japan, Europe, South America and North America. The Target Company operates production facilities in China with factory size of approximately 15,000 square meters. It has a total number of over 130 staff members. The Target Company is also awarded with a number of certificates such as ISO certificates. As set out in the unaudited consolidated financial statements of the Target Group, the unaudited profits before tax were approximately RMB 23.4 million and RMB 22.7 million for the two years ended 31 December 2014 and 2015 respectively.
INFORMATION OF THE TARGET GROUP. The Target Company is a company established in the PRC with limited liability. The Target Group is principally engaged in the business of research and development, manufacturing and sales of optical film in the PRC. Set out below is certain financial information of the Target Group (on a consolidated basis) for the years ended 31 December 2018 and 31 December 2017 respectively, as extracted from the Target Group’s audited financial statements (on a consolidated basis) prepared in accordance with the PRC Accounting Standards for Business Enterprises: For the year ended 31 December For the year ended 31 December 2017 RMB’000 (Note 1) 2018 RMB’000 Revenue 35,244 122,838 Net profit before tax 2,949 11,407 Net profit after tax 2,212 9,500 For the year ended 31 December 2018 RMB’000 Total assets 100,244 Net assets 40,807 Guangdong Regency is a company established in the PRC with limited liability. Guangdong Regency is principally engaged in the business of research and development, manufacturing and sales of diffuser and optical film in the PRC. Set out below is the shareholding structure of the Guangdong Regency immediately before completion of and after completion of the Allotment: TCL Technoly 56.39% 44.02% Huizhou Kaichuang 10.00% 7.81% Xx. Xx Xxxxxxxx 4.21% 3.29% Xx. Xxx Xxxxxxx 2.10% 1.64% Ms. Xx Xxxxxx (spouse of Mr. Xxxx Xxxxxxxx) 2.10% 1.64% Xx. Xxxx 0% 13.35% Xx. Xx 0% 5.96% Xx. Xxxx 0% 2.63% Other shareholders 27.30% 21.31% On 6 June 2019, TCL Technoly and Huizhou Kaichuang have entered into the Acting-in- Concert Agreement, pursuant to which the parties confirm, among others, that they have been acting and will act in concert in respect of matters and affairs in relation to Guangdong Regency in their capacity as shareholders of Guangdong Regency, and that should there be any disagreement between TCL Technoly and Huizhou Kaichuang in exercising their respective rights as shareholders of Guangdong Regency, Huizhou Kaichuang shall follow the decision of TCL Technoly. As such, although the Company’s indirect interest in Guangdong Regency will be diluted to drop below 50% after completion of the Allotment, in view of the Acting-in-Concert Agreement and the fact that the aggregate interest of TCL Technoly and Huizhou Kaichuang in Guangdong Regency immediately after completion of the Allotment still remains over 50%, the auditor of the Company has confirmed that Guangdong Regency will remain as a Subsidiary of the Company and that the financial results of G...
INFORMATION OF THE TARGET GROUP. The Target Company is a company incorporated in BVI and, upon completion of the proposed restructuring, will be the indirect owner of the Land and will undergo a building construction project on the Land as well as to develop an online-to-offline wholesale marketplace project (“CKB Project”). As at the date of this announcement, the Group is principally engaged in the businesses of IT application and solution development, IT infrastructure solutions, secondment services and maintenance and support services. In order to maximise return to the Company and the Shareholders in the long run, the Directors consider that it is in the interest of the Company to enter into the MOU to explore the possibility of diversification of the business of the Group. The Possible Acquisition, should it be materialized, would be an opportunity for the Group to, with the assistance of the IT background of the Group’s business, develop an online-to-offline e-commerce market in Malaysia..
INFORMATION OF THE TARGET GROUP. The Target Company is a company incorporated in Hong Kong and is principally engaged in investment holding. As at the date of this announcement, each of the Target Subsidiaries is a direct wholly-owned subsidiary of the Vendor. Upon completion of the Reorganisation, the Target Company will directly hold the entire issued share capital of each of the Target Subsidiaries. The Target Subsidiaries are principally engaged in the businesses of the operation of four cinemas in Hong Kong and the sales of merchandise, membership subscription in cinemas, provision in advertising and film distribution agency service.
INFORMATION OF THE TARGET GROUP. The Target Company is a company incorporated in Hong Kong with limited liability and beneficially wholly-owned by the First Vendor. The Target Company is an investment holding company which has no other substantial operating businesses and major assets other than holding the entire equity interest of Guangxi Jiaming. Guangxi Jiaming, the wholly-owned subsidiary of the Target Company, is a wholly-foreign-owned enterprise established in the PRC with limited liability. It is principally engaged in property development in Guangxi Province and holds a Class 4 Qualification Certificate for Real Estate Development Enterprise. Currently it owns two office units (with an aggregate gross floor area of approximately 444 square metres) in Nanning City for its own use, and holds 37 car parks for sale and leasing purpose in a residential project developed by Guangxi Jiaming in Nanning City. All the residential units had been sold in or before the year 2019. The Target Group recorded an unaudited revenue of approximately HK$0.47 million and HK$0.27 million for each of the year ended 31 December 2018 and 2019, respectively, which was mainly generated from the sales of residential units held by Guangxi Jiaming. The unaudited consolidated net loss before and after taxation of the Target Group for each of the year ended 31 December 2018 and 2019 amounted to approximately HK$4.88 million and HK$4.69 million, respectively. Loss incurred in 2019 was mainly attributable to an one-off impairment of certain long outstanding trade and non-trade receivables of Guangxi Jiaming of approximately HK$4.63 million. As at 31 December 2019, the unaudited consolidated net liabilities of the Target Group amounted to approximately HK$2.65 million, which is based on the financial information extracted from the management accounts of the Target Group without taking into account its assets appraisal value as at 31 December 2019. Based on the valuation report prepared by an independent valuer engaged by the Company in accordance with the International Valuation Standards published by the International Valuation Standards Council, the market value of the net assets of the Target Group as at 31 December 2019 was estimated to be approximately HK$0.43 million. In deriving the estimated market value of the net assets of the Target Group, the independent valuer adopted the asset approach whereby each identifiable asset and liability in the Target Group was either assessed by using the market approach or...
