Sanya Youju Real Estate Co., Ltd. announced that it expects to receive CNY 426 million in funding from Macrolink Culturaltainment Development Co., Ltd.
January 22, 2017
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Sanya Youju Real Estate Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 426,000,000 with Macrolink Culturaltainment Development Co., Ltd. (SZSE:000620) on January 23, 2017. CNY 104,652,700 of the proceeds will be added to registered capital and CNY 321,347,300 will be added to capital reserve. As a result of the transaction, the company’s registered capital will increase from CNY 121,000,000 to CNY 225,652,700. The transaction is under the purview of investors’ directors and does not need its directorate’s and shareholders’ approvals. The company reported total assets of CNY 97,324,365.15, total liabilities of CNY 273,271.46, net assets of CNY 97,051,093.69, no revenue or operating profit, total loss, and net loss of CNY 1,222,173.31 for the year ended December 31, 2016. As a result of the transaction and concurrent acquisition through which the investor is acquiring 10% of existing stake, the investor will hold 51.74% stake in the company upon closing.
MACROLINK CULTURALTAINMENT DEVELOPMENT CO., LTD. , formerly MACROLINK REAL ESTATE CO., LTD. is a China-based company principally engaged in the development and distribution of real estates. The Company is mainly engaged in investment and planning, development and construction, construction operation, business management and the provision of property services. The Company is also involved in the sale of commercial residential properties, construction, decoration and other businesses. The Company mainly operates its businesses in Beijing, Shanghai, Tianjin, Anhui Province, Qinghai Province and Ningxia Autonomous Region, China.
Sanya Youju Real Estate Co., Ltd. announced that it expects to receive CNY 426 million in funding from Macrolink Culturaltainment Development Co., Ltd.