Zhejiang Sunriver Culture Co.,Ltd. completed the acquisition of Beijing Bailong Green Technology Enterprise, Phoenix Xiangsheng Tourism Development, Zhangjiajie Huanglongdong Tourism Development, Huangshan Xiangyuan Yungu Hotel Management, Huangshan Xiangyuan Qiyunshan Hotel Management, Hangzhou Xiaodao Network Technology, Anhui Yixiang Cultural Tourism Industry and Qiyunshan Tourism from Sunriver Tourism Development Co., Ltd.
October 09, 2022
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Zhejiang Sunriver Culture Co.,Ltd. (SHSE:600576) intends to acquire 80% stake in Qiyunshan Tourism Co., Ltd. and 100% stake in Beijing Bailong Green Technology Enterprise Co., Ltd., Phoenix Xiangsheng Tourism Development Co., Ltd., Zhangjiajie Huanglongdong Tourism Development Co., Ltd., Huangshan Xiangyuan Yungu Hotel Management Co., Ltd., Huangshan Xiangyuan Qiyunshan Hotel Management Co., Ltd., Hangzhou Xiaodao Network Technology Co., Ltd. and Anhui Yixiang Cultural Tourism Industry Co., Ltd. from Sunriver Tourism Development Co., Ltd. for CNY 1.7 billion on April 30, 2021. Zhejiang Sunriver signed an agreement to acquire Beijing Bailong Green, Phoenix Xiangsheng, Zhangjiajie Huanglongdong, Hangzhou Xiaodao Network and Qiyunshan Tourism from Sunriver Tourism on May 19, 2021. As consideration, Zhejiang Sunriver will issue its shares at CNY 4.14 per share. Zhejiang Sunriver will raise CNY 400 million to finance the transaction and replenish its working capital. As of September 15, 2022, according to the results, the Company's acquisition of assets through the issuance of shares and raising of supporting funds was approved unconditionally by China Securities Regulatory Commission. As of October 1, 2022, After negotiation by both parties, it was confirmed that the transaction price of this issuance of shares to purchase assets was CNY 1631.82 million.
The transaction has been approved by the internal decision-making body of the counter party and was approved by the 19th session of the Zhejiang Sunriver's 7th directorate. The transaction is subject to approval from the directorate and shareholders of Zhejiang Sunriver and CSRC. As of December 6, 2021, transaction is approved by the shareholders of Zhejiang Sunriver Culture Co.,Ltd. CITIC Securities Company Limited (SHSE:600030) acted as financial advisor to Zhejiang Sunriver Culture Co.,Ltd. Grandall Lawyers (Shanghai) Office acted as legal advisor to Zhejiang Sunriver Culture Co.,Ltd. Shanghai Certified Public Accountants and RSM China CPA LLP acted as accountant for Zhejiang Sunriver Culture Co.,Ltd.
Zhejiang Sunriver Culture Co.,Ltd. (SHSE:600576) completed the acquisition of 80% stake in Qiyunshan Tourism Co., Ltd. and 100% stake in Beijing Bailong Green Technology Enterprise Co., Ltd., Phoenix Xiangsheng Tourism Development Co., Ltd., Zhangjiajie Huanglongdong Tourism Development Co., Ltd., Huangshan Xiangyuan Yungu Hotel Management Co., Ltd., Huangshan Xiangyuan Qiyunshan Hotel Management Co., Ltd., Hangzhou Xiaodao Network Technology Co., Ltd. and Anhui Yixiang Cultural Tourism Industry Co., Ltd. from Sunriver Tourism Development Co., Ltd. on October 10, 2022.
Zhejiang Sunriver Culture Tourism Co Ltd, formerly Zhejiang Sunriver Culture Co Ltd, is a company mainly engaged in animation and its derivative business. The Company is also engaged in animation film and television business, internet promotion business, cultural tourism animation business and financial leasing business. The animation and its derivatives business is mainly engaged in the creativity, planning, production and distribution of mobile Internet new media animation, animation copyright authorization, development and operation of derivatives, animation base support, etc. The animation film and television business is mainly engaged in the creativity, production and investment of animation films, animation dramas and animation short videos. The internet promotion business is mainly engaged in traffic integration and Internet marketing. The cultural tourism animation business mainly refers to cooperation with tourism destinations and integration and innovation attempts.
Zhejiang Sunriver Culture Co.,Ltd. completed the acquisition of Beijing Bailong Green Technology Enterprise, Phoenix Xiangsheng Tourism Development, Zhangjiajie Huanglongdong Tourism Development, Huangshan Xiangyuan Yungu Hotel Management, Huangshan Xiangyuan Qiyunshan Hotel Management, Hangzhou Xiaodao Network Technology, Anhui Yixiang Cultural Tourism Industry and Qiyunshan Tourism from Sunriver Tourism Development Co., Ltd.
ZHEJIANG SUNRIVER CULTURE TOURISM CO.,LTD. 
