AiXin Life International, Inc. Announces Acquisitions of Hotel and Pharmacy Chain
June 07, 2021 at 08:23 am
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AiXin Life International, Inc. announced that on May 25, 2021, agreed to purchase the Shangyan Hotel located in Chengdu, for a purchase price of approximately $1.2 million. On June 2, 2021, the Company agreed to purchase a chain of nine pharmacies also located in Chengdu for an aggregate purchase price of approximately $5.3 million. The Shangyan Hotel is owned and operated by Chengdu Aixin Shangyan Hotel Management Co. Ltd., now a wholly owned subsidiary of AIXN. The hotel covers more than 8,000 square meters and has a large restaurant, luxury dining rooms, a music tea house, private tea rooms, 108 guest rooms and other supporting facilities. The hotel is conveniently located to public transportation and the Shuangliu International Airport. It boasts a banquet hall equipped with advanced audio-visual equipment and high-speed wireless internet to facilitate large group presentations. The staff is experienced and professional and the hotel offers a full range of catering services. The Company expects the closing of Shangyan Hotel Company acquisition to occur in early July 2021.
AiXin Life International Inc, formerly Mercari Communications Group Ltd, is a holding company mainly engaged in the provision of health and wellness products. The Company operates its business through four segments, Products, Pharmacies, Hotel, and Manufacture and Sales. The Company mainly develops, manufactures, markets and sells healthcare, nutritional products and wellness supplements, including herbs and greens, traditional Chinese remedies, functional products, such as weight management products, probiotics, foods and drinks. The Companyâs hotel business includes rental of rooms, food and beverage sales and other ancillary goods and services, including but not limited to souvenir, parking and conference reservations. The Company also provide advertising and marketing services.