Xiamen XinDa 527 million yuan acquisition of automobile business in China World Trade Center, Xiamen

Earlier this morning, Xiamen XinDa Limited by Share Ltd (hereinafter referred to as "company" and "Xiamen XinDa") issued a notice. The company intends to purchase Xiamen China World Trade Center automobile convergence held by Xiamen China World Trade Center group (hereinafter referred to as "Xiamen China World Trade Center") in cash payment (hereinafter referred to as "China World Trade Center automobile"). ) 98.671% stake and 100% stake in Fujian Huaxia Motor City Development Co., Ltd. (hereinafter referred to as "Huaxia Auto City").

A wholly owned subsidiary of the company, Xiamen XinDa Automotive Investment Group Co., Ltd. intends to acquire the 1.329% stake in China World Trade Center automobile, Xiamen Shanghai affiliated enterprise Shanghai Kai Run Industrial Co., Ltd. (hereinafter referred to as "Shanghai run") by cash payment method.

Hongkong XinDa Nuo limited, a wholly owned subsidiary of the company, intends to acquire the 25% equity interest of China World Trade Center Intime financial leasing (Xiamen) Limited (hereinafter referred to as "China World Trade Center Intime") which is owned by Xiamen China World Trade Center affiliated investment company (Hongkong) Limited (hereinafter referred to as "Bao Da Hongkong") by cash payment.

According to the announcement, the total purchase price is RMB 526 million 906 thousand and 300 yuan. Among them, China World Trade Center automobile 98.671% equity transfer price 243 million 489 thousand and 200 yuan, Huaxia Automobile City 100% equity transfer price 230 million 140 thousand and 200 yuan; Shanghai Kai Run holds China World Trade Center automobile 1.329% equity, transfer price 3 million 279 thousand and 600 yuan; Bao Da Hongkong holds 25% equity of China World Trade Center Intime, transfer price 49 million 997 thousand and 300 yuan.

Statistics show that China World Trade Center, Xiamen, is a comprehensive enterprise with three main core businesses, namely, supply chain management, real estate management and financial services. Its main business has developed well in the past three years. Shanghai Kai Run is a platform company in Xiamen and China World Trade Center in Shanghai and Yangtze River Delta region. It is mainly engaged in trade and investment business, and has developed well in the past three years. Hongkong, as a platform company of Xiamen China World Trade Center in Hongkong, is mainly engaged in trade and investment business. Its business has developed well in the past three years.

In addition, China World Trade Center automobile is a comprehensive automobile investment management enterprise mainly based on automobile sales service. Its subordinate investment enterprises are mainly engaged in the exclusive business of the high-end brand automobile 4S shop, including many famous automobile brands including Audi, Infiniti, Cadillac, TOYOTA, Honda, Volkswagen, and the current generation. Business scope covers brand car sales, car repair, accessories sales, auto finance, automotive decoration beauty, automobile clubs and other complete automotive service industry chain. In the first half of 2018, revenue was 1 billion 839 million yuan and net profit was 40 million 760 thousand yuan.

Huaxia motor city is a large professional automobile sales and service company integrating vehicle sales, spare parts supply, vehicle maintenance and information feedback. It is a special distributor and regional agent for Southeast Asian automobile, Volkswagen, Citroen, Chrysler, Honda, brilliance and other domestic and foreign automobile manufacturers. Four The company takes the vehicle sales as the leader, and provides one-stop service for customers, such as vehicle maintenance, parts supply, automobile decoration, vehicle insurance, vehicle detection, vehicle purchase tax payment, newspaper licensing and loan purchase. In the first half of 2018, revenue was 461 million yuan and net profit was 11 million 750 thousand yuan.

China World Trade Center Intime is mainly engaged in car financing and leasing business, and strive to provide customers with financial leasing consulting and personalized financial services solutions in all directions. In the first half of 2018, revenue was 29 million 630 thousand yuan and net profit was 9 million 110 thousand yuan.

After the acquisition is completed, China World Trade Center automobile, Huaxia Auto City and China World Trade Center Intime will become the direct or indirect subsidiary of Xiamen XinDa. After the completion of the transaction, China World Trade Center automobile, Huaxia Auto City and China World Trade Center Intime will be incorporated into the Xiamen XinDa merger report.

Xiamen XinDa said that China World Trade Center automobile, Huaxia Motor City and its subsidiaries have been engaged in automobile business for many years. They have more complete automobile distribution industry chain business, rich industry management experience and good brand awareness, and have been selected as the top 100 distributors in China's automobile circulation industry for many years. If the acquisition is completed successfully, it will help the company's automobile business to integrate superior resources and quickly do large-scale operations, thereby greatly enhancing its core competitiveness and realizing the leaping development of automobile business, which is in line with the company's strategic development requirements.

In addition, this transaction can also effectively eliminate the competition between the company and Xiamen China World Trade Center in the automotive dealership business, which is conducive to further improving the standard management level of the company.

For more LED related information, please click LED net or pay attention to WeChat public account (cnledw2013).