Guizhou Fanjingshan State-Level Nature Reserve Administration signed a share transfer agreement to acquire Guizhou Wuling Scenic Area Management Co., Ltd. from Wuhan Sante Cableway Group Co., Ltd. for approximately CNY 950 million.
October 14, 2020
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Guizhou Fanjingshan State-Level Nature Reserve Administration signed a share transfer agreement to acquire Guizhou Wuling Scenic Area Management Co., Ltd. from Wuhan Sante Cableway Group Co., Ltd. (SZSE:002159) for approximately CNY 950 million recently. In a related transaction, Guizhou Fanjingshan State-Level Nature Reserve Administration signed share transfer agreement to acquire Guizhou Sante Fanjingshan Tourist Sightseeing Vehicle Co., Ltd from Wuhan Sante Cableway Group Co., Ltd. for CNY 18.7 million recently. Guizhou Wuling Scenic Area Management reported total revenue of CNY 59.8 million, total assets of CNY 49.8 million, operating profit of CNY 12.9 million, net income of CNY 9.5 million and net assets of CNY 39.1 million for the year ending, December 31, 2019. The transaction is subject to approval of the shareholders of Wuhan Sante Cableway Group and was approved by the Board of Wuhan Sante Cableway Group.
Wuhan Sante Cableway Group Co Ltd is a China-based company principally engaged in the operation of tourism business. The Company's business activities include the operation of sightseeing ropeways in scenic areas, the operation of tourist attractions and the sale of tickets, the operation of hotel and catering business, travel agency business and scenic tourist coach business. The Company also involves in real estate business. The Company operates its business in domestic market.
Guizhou Fanjingshan State-Level Nature Reserve Administration signed a share transfer agreement to acquire Guizhou Wuling Scenic Area Management Co., Ltd. from Wuhan Sante Cableway Group Co., Ltd. for approximately CNY 950 million.