Cosmos Group Co., Ltd. agreed to acquire 49.5% stake in Hangzhou Yuhui Enterprise Management Co., Ltd. from HangZhou ZhongBei Garden Real Estate Development Co., Ltd. for CNY 0.05 million.
September 21, 2020
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Cosmos Group Co., Ltd. (SZSE:002133) agreed to acquire 49.5% stake in Hangzhou Yuhui Enterprise Management Co., Ltd. from HangZhou ZhongBei Garden Real Estate Development Co., Ltd. for CNY 0.05 million on September 22, 2020. Under the transaction, Cosmos Group Co., Ltd. will acquire the shares of Hangzhou Yuhui Enterprise Management Co., Ltd. at CNY 1 per share. Upon completion, HangZhou ZhongBei Garden Real Estate Development Co., Ltd. will hold a 50.5% equity stake in Hangzhou Yuhui Enterprise Management. As at August 31, 2020, Hangzhou Yuhui Enterprise Management reported total assets of CNY 588.07. The acquisition was approved by the Board of Directors of Cosmos Group Co., Ltd.
Cosmos Group Co., Ltd. is a China-based company primarily engaged in the development and distribution of real estate. The Company mainly develops and distributes small and middle residential properties. The Company is also engaged in property management and leasing businesses. The Company conducts its businesses principally in Zhejiang Province, Guangdong Province and Anhui Province, China.
Cosmos Group Co., Ltd. agreed to acquire 49.5% stake in Hangzhou Yuhui Enterprise Management Co., Ltd. from HangZhou ZhongBei Garden Real Estate Development Co., Ltd. for CNY 0.05 million.
COSMOS GROUP CO., LTD. 
