Yonyou Network Technology Co., Ltd. cancelled the acquisition of additional 0.32% stake in Sino-tone Consulting Co.Ltd from Yu Hu.
August 21, 2018
Share
Yonyou Network Technology Co., Ltd. (SHSE:600588) agreed to acquire an additional 0.32% stake in Sino-Tone (Beijing) Consulting Co., Ltd. from Yu Hu for CNY 0.96 million on August 22, 2017. Under the terms of transaction, Yonyou Network Technology Co., Ltd. (SHSE:600588) will acquire an additional 0.06 million shares of Sino-Tone (Beijing) Consulting Co., Ltd. Upon completion, Yonyou Network Technology Co., Ltd. will hold 10.32% stake Sino-Tone (Beijing) Consulting Co., Ltd. For the year ended December 31, 2016, Sino-Tone (Beijing) Consulting Co., Ltd. reported total assets of CNY 33.3 million, net assets of CNY 4.7 million, revenue of CNY 66.6 and net loss of CNY 6.2 million. The Board of Yonyou Network Technology Co., Ltd. approved the transaction.
Yonyou Network Technology Co., Ltd. (SHSE:600588) cancelled the acquisition of additional 0.32% stake in Sino-tone (Beijing) Consulting Co.Ltd from Yu Hu on August 22, 2018.
Yonyou Network Technology Co., Ltd. is specialized in the development and manufacturing of management software products. These products are used for enterprise resource planning, human resource management, office automation, customer relationship management, product lifecycle management, etc. Net sales break down by activity as follows:
- services (69.1%): maintenance, technical support, consulting, and training services;
- sale of licenses (29.6%);
- other (1.3%).
China accounts for 98.4% of net sales.