Zhejiang WHWH Industry Co., Ltd. cancelled the acquisition of Shandong Xinhai Technology Co., Ltd. from Wang Wenlong and other shareholders.
January 04, 2014 at 11:00 pm
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Zhejiang WHWH Industry Co., Ltd. entered into an agreement to acquire Shandong Xinhai Technology Co., Ltd. from Wang Wenlong and other shareholders for approximately $870 million on June 28, 2013. Zhejiang will give its entire assets and liabilities and also issue 414.14 million new shares as consideration. This significant asset restructuring will lead to a change in Zhejiang's actual controller. Zhejiang WHWH Industry Co Ltd announced on July 4, 2013, that it will use all its assets and liabilities, as well as new shares issuance to exchange with a 100% stake in a Shandong-based company owned by an Linyi City-based investment company and Mr. Wang Wenlong. King & Wood Mallesons acted as the legal advisor to Zhejiang WHWH.
Zhejiang WHWH Industry Co., Ltd. cancelled the acquisition of Shandong Xinhai Technology Co., Ltd. from Wang Wenlong and other shareholders on January 5, 2014. Zhejiang WHWH Industry Co Ltd announced that it cancelled its plan of exchange all its assets and liabilities owing to the reason of preparing relative documents of the Shandong Xinhai Technology Co., Ltd.
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 TOURISM CO.,LTD. 
