Chengdu Hi-tech Investment Group Co., Ltd. cancelled the acquisition of 5% in Sichuan Xunyou Network Technology Co., Ltd. from Zhang Jianwei, Yuan Xu and Chen Jun.
December 22, 2019
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Chengdu Hi-tech Investment Group Co., Ltd. signed an intention agreement to acquire 5% in Sichuan Xunyou Network Technology Co., Ltd. (SZSE:300467) from Zhang Jianwei, Yuan Xu and Chen Jun on August 11, 2019. A formal share transfer agreement is yet to be signed. Chengdu Hi-tech Investment Group Co., Ltd. will itself or through a designated third party will acquire 11.2 million shares. Consideration will be decided in the formal agreement. State-owned assets approval will be required for the deal. Due diligence of Sichuan Xunyou Network Technology Co., Ltd. will be conducted.
Chengdu Hi-tech Investment Group Co., Ltd. cancelled the acquisition of 5% in Sichuan Xunyou Network Technology Co., Ltd. (SZSE:300467) from Zhang Jianwei, Yuan Xu and Chen Jun on December 23, 2019. The parties failed to reach an agreement on the core terms of the transaction plan, the parties negotiated and decided to terminate the share transfer.
Sichuan Xunyou Network Technology Co Ltd is a China-based company principally engaged in the provision of accelerating services for network games and other network real-time interaction applications. Its main products include Xunyou network gaming accelerators and Xunyou mobile gaming accelerators. Xunyou network gaming accelerator is applied in highly interactive and battle-based online games in personal computers (PCs). Xunyou mobile gaming accelerator is applied in mobile network devices, such as smart phone. The Company is also engaged in advertising display service and paid subscription business based on mobile Internet application software. The Company mainly conducts its businesses within domestic market.
Chengdu Hi-tech Investment Group Co., Ltd. cancelled the acquisition of 5% in Sichuan Xunyou Network Technology Co., Ltd. from Zhang Jianwei, Yuan Xu and Chen Jun.