Ningbo Jiangdong Chuangwang Trading Co., Ltd. cancelled the acquisition of Zhejiang Yichuan Investment Management Co., Ltd. from Shanghai Yuyuan Tourist Mart Co., Ltd..
January 24, 2015 at 11:00 pm
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Ningbo Jiangdong Chuangwang Trading Co., Ltd. agreed to acquire Zhejiang Yichuan Investment Management Co., Ltd. from Shanghai Yuyuan Tourist Mart Co., Ltd. (SHSE:600655) for CNY 36.5 million on December 26, 2013. Ningbo Jiangdong Chuangwang signed share transfer agreement to acquire Zhejiang Yichuan Investment Management Co., Ltd. from Shanghai Yuyuan Tourist Mart Co., Ltd. on July 25, 2014. Ningbo Jiangdong Chuangwang must pay Shanghai Yuyuan Tourist CNY 5 million of Zhejiang Yichuan's share transfer payment before January 28, 2014, CNY 5 million before March 31, 2014, CNY 10 million before May 31, 2014, and CNY 16.5 million before July 31, 2014. As of July 26, 2014, Shanghai Yuyuan Tourist has received a total share payment of CNY 15 million. In a related transaction, Ningbo Jiangbei Longhengsheng Trading Co., Ltd. agreed to acquire Hangzhou Shicheng Economic Information Service Co., Ltd. from hanghai Yuyuan Tourist Mart Co., Ltd. (SHSE:600655) for CNY 36.5 million. Shanghai Yuyuan Tourist Mart's presidential office meeting passed a resolution for the transaction on December 26, 2013.
Ningbo Jiangdong Chuangwang Trading Co., Ltd. cancelled the acquisition of Zhejiang Yichuan Investment Management Co., Ltd. from Shanghai Yuyuan Tourist Mart Co., Ltd. (SHSE:600655) on January 25, 2015.
Shanghai Yuyuan Tourist Mart Group Co Ltd is a China-based company mainly engaged in the jewelry and fashion business. The Company operates 11 segments. Jewelry and Fashion segment is engaged in the sales of gold, platinum, diamond-set, jade, jade, watches and other jewelries. Property Development and Sales segment is engaged in the development and sales of commercial properties. The Company also operates Catering Management and Service segment, Food, Department Store and Handicraft Sales segment, Medicine & Health and Others segment, Cosmetics segment, Fashion Watch segment, Commercial Operation Management and Leasing segment, Resort segment, Other Operations and Management Services segment and Wine Industry segment.
SHANGHAI YUYUAN TOURIST MART (GROUP) CO., LTD. 
