Yue Yuen Industrial Limited completed the acquisition of Huaibin Yue-shen Sporting Goods., Ltd and Zhong Xiang Yue-Shen Sporting Goods Co., Ltd. from Pou Sheng International Ltd..
Huaibin Yue-shen Sporting Goods reported unaudited net asset value of CNY 14.67 million as at November 30, 2013, audited net profit before taxation of CNY 2.51 million and audited net profit after taxation of CNY 1.88 million for the year ended December 31, 2012. Zhong Xiang Yue-Shen reported unaudited net asset value of CNY 18.73 million as at November 30, 2013, audited net loss before taxation of CNY 2.94 million and audited net loss after taxation of CNY 2.94 million for the year ended December 31, 2012. The transaction is expected to close by January 1, 2014.
Yue Yuen Industrial (Holdings) Limited (SEHK:551) completed the acquisition of Huaibin Yue-shen Sporting Goods., Ltd and Zhong Xiang Yue-Shen Sporting Goods Co., Ltd. from Pou Sheng International (Holdings) Ltd. (SEHK:3813) on January 1, 2014.