AiXin Life International, Inc. Announces Acquisitions of Hotel and Pharmacy Chain
June 07, 2021 at 08:23 am EDT
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AiXin Life International, Inc. announced that on May 25, 2021, agreed to purchase the Shangyan Hotel located in Chengdu, for a purchase price of approximately $1.2 million. On June 2, 2021, the Company agreed to purchase a chain of nine pharmacies also located in Chengdu for an aggregate purchase price of approximately $5.3 million. The Shangyan Hotel is owned and operated by Chengdu Aixin Shangyan Hotel Management Co. Ltd., now a wholly owned subsidiary of AIXN. The hotel covers more than 8,000 square meters and has a large restaurant, luxury dining rooms, a music tea house, private tea rooms, 108 guest rooms and other supporting facilities. The hotel is conveniently located to public transportation and the Shuangliu International Airport. It boasts a banquet hall equipped with advanced audio-visual equipment and high-speed wireless internet to facilitate large group presentations. The staff is experienced and professional and the hotel offers a full range of catering services. The Company expects the closing of Shangyan Hotel Company acquisition to occur in early July 2021.
AiXin Life International Inc, formerly Mercari Communications Group Ltd, is a holding company mainly engaged in the provision of nutritional products in China. The Company operates its business through three segments. Advertising and Products segment provides health and wellness products and advertising and marketing services including herbs and greens, traditional Chinese remedies, functional products. Pharmacies segment distributes our health and wellness products. The Company also conduct through Hotels segment. The Company operates in the domestic market.