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 liability)/net asset value of the Target Company for the two years ended 31 December 2018, 31 December 2019 and the nine months ended 30 September 2020 was approximately RMB(2,000,000), RMB870,000 and RMB2,600,000 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 nine months ended 30 September 2020 respectively: For the year ended 31 December For the nine months ended 30 September 2018 2019 2020 unaudited unaudited unaudited RMB’000 RMB’000 RMB’000 Net profit/(loss) before tax 1,681 4,056 3,288 Net profit/(loss) after tax 1,261 3,042 2,466 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 19 property management projects are managed by the Target Company with approximately 1.6 million sq.m. of contracted GFA under management. The Target Company mainly operates in Zhongshan city of Guangdong 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 a limited liability company established in the PRC on 23 February 1996 and is a wholly-owned subsidiary of the Company. It is principally engaged in the business of trading services (including ready-to-sell drinking water, food sales, materials and equipment sales, etc.).
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 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 2019 and 31 December 2020 was approximately RMB9,300,000 and RMB20,684,000 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 6,503 10,222 Net profit/(loss) after tax 4,522 7,662 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 31 property management projects are managed by the Target Company with approximately 5.5 million sq.m. of total contracted GFA. The Target Company mainly operates in Jiangsu province of the PRC. The Seller The Seller is principally engaged in investment holding. LISTING RULES IMPLICATIONS As one 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 in the PRC and listed on the Shenzhen Stock Exchange (stock code: 002960). It is principally engaged in the research and development, production and sales of fire safety system products. As at the date of the Supplemental Agreement, the total number of issued shares of the Target Company is 758,968,225 and the Company holds 175,474,469 of such issued shares, representing approximately 23.12% of the equity interest in the Target Company. The Sale Shares (i.e. 44,900,000 Target Shares) represented approximately 7.96% of the equity interest in the Target Company as at the date of the Share Transfer Agreement, and approximately 5.92% of the equity interest in the Target Company as at the date of the Supplemental Agreement. After Completion, the Target Company undertook a bonus issue of shares, under which bonus shares of the Target Company attributable to the Sale Shares were allotted and issued to the Purchaser, resulting in the Sale Shares amounting to 58,370,000 Target Shares and representing approximately 7.69% of the equity interest in the Target Company as at the date of the Supplemental Agreement. As at the date of the Supplemental Agreement, the Purchaser holds 131,182,944 Target Shares (including the Sale Shares) in aggregate, representing approximately 17.28% of the equity interest in the Target Company. The audited net profit before taxation and the audited net profit after taxation of the Target Company for the financial year ended 31 December 2022, which were prepared in accordance with the applicable accounting standards in the PRC, were approximately RMB693,130,000 (equivalent to approximately HK$748,788,000) and approximately RMB599,656,000 (equivalent to approximately HK$647,808,000) respectively, while the audited net profit before taxation and the audited net profit after taxation of the Target Company for the financial year ended 31 December 2023, which were prepared in accordance with the applicable accounting standards in the PRC, were approximately RMB797,623,000 (equivalent to approximately HK$861,672,000) and approximately RMB705,822,000 (equivalent to approximately HK$762,500,000) respectively. The audited net asset value of the Target Company as at 31 December 2023, which was prepared in accordance with the applicable accounting standards in the PRC, was approximately RMB6,476,309,000 (equivalent to approximately HK$6,996,357,000).
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. As at the date of this Announcement, the Target Company is the holder of a mining licence and an exploration licence in respect of silver and manganese mines located in Zhuolu County, Hebei Province ( 河 北 省 涿 鹿 縣 ), the PRC. Based on a geological report prepared in May 2010 and supplied by the Intended Vendor, the said mines contains mineral reserves of approximately 422 tons of silver and 129,685 tons of manganese, whose total selection and refining recovery rate ( 選 冶 總 回 收 率 ) is 75%.
INFORMATION ON THE TARGET COMPANY. As previously disclosed in the November Announcement, the Target Company was incorporated in the People’s Republic of China (the “PRC”) and was previously listed on the PRC’s National Equities Exchange and Quotations. It specialises in the production of specialty chemicals used mainly for the construction industry, such as concrete admixtures, mortar admixtures, gypsum water reducing agents, floor care products and geotechnical engineering additives. The Target Company was introduced by a contact of the Chairman of our Group, Xx Xxx Jiangang. No introduction fees will be paid to any party in relation to the Proposed Acquisition. As at 31 December 2018, the net tangible asset value of 18.18% of the enlarged share capital of the Target Company is approximately S$1,557,000. Its open market value is not available as the shares of the Target Company are not publicly traded.
INFORMATION ON THE TARGET COMPANY. Golden Bridge Tianjie Investment Company Limited, a company to be established under the laws of PRC after the Restructuring of the Vendor Company, which is to have the Property as its only asset. INFORMATION ON THE PROPERTY The Property is located at 00 Xxxxxxxxxx Xxxx, Xxxxxxxx Xxxxxxxx which is at the heart of Beijing, PRC. It has an aggregate land use right area of approximately 3,651 square meters on which erected a building with a total gross floor area of approximately 5,722 square meters.
