Hylink Digital Solution Co., Ltd. and Guangzhou Wuxiu Enterprise Management Partnership Enterprise (Limited Partnership) signed an share purchase agreement to acquire 36.4% stake in Beijing Xinhuafu Cultural Communication Co., Ltd. from Wang Jin and Zheng Wei.
November 18, 2020
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Hylink Digital Solution Co., Ltd. (SHSE:603825) and Guangzhou Wuxiu Enterprise Management Partnership Enterprise (Limited Partnership) signed an share purchase agreement to acquire 36.4% stake in Beijing Xinhuafu Cultural Communication Co., Ltd. from Wang Jin and Zheng Wei on November 17, 2020. Guangzhou Wuxiu Enterprise Management Partnership Enterprise (Limited Partnership) and Hylink Digital Solution Co., Ltd. will also increase stake in Beijing Xinhuafu Cultural Communication Co., Ltd. through capital increase of CNY 10 million and CNY 2.2 million respectively. After the acquisition and capital increase, Hylink Digital Solution Co., Ltd. and Guangzhou Wuxiu Enterprise Management Partnership Enterprise (Limited Partnership) will hold 40% stake each, Wang Jin holds stake 5.17% stake, Zheng Wei holds 1.5% stake, Ningbo Xinhuafu Enterprise Management Consulting Partnership Enterprise (Limited Partnership) holds 13.33% stake in Beijing Xinhuafu Cultural Communication Co., Ltd. As of October 30, 2020, Beijing Xinhuafu Cultural Communication Co., Ltd. recorded total assets of CNY 3.89 million, total liabilities of CNY 2.85 million, net assets of CNY 1.03 million, net loss of CNY 1.38 million. As of December 31, 2019, Beijing Xinhuafu Cultural Communication Co., Ltd. recorded total assets of CNY 3.66 million, total liabilities of CNY 1.25 million, net assets of CNY 2.41 million, net loss of CNY 1.88 million. The transaction has been approved by board of directors of Hylink Digital Solution Co., Ltd.
Hylink Digital Solutions Co Ltd is a China-based company principally engaged in the provision of Internet advertising business. The Company's primary business includes Internet advertising services and buyout sales agency services. The Internet advertising services mainly include the advertising agency, advertising planning and manufacturing, as well as film and television content manufacturing services. The buyout sales agency business mainly includes the purchase and sales of specific goods to specific customers through online, offline and other channels, as well as the provision of related marketing planning solutions. The Company mainly operates its business in domestic market.
Hylink Digital Solution Co., Ltd. and Guangzhou Wuxiu Enterprise Management Partnership Enterprise (Limited Partnership) signed an share purchase agreement to acquire 36.4% stake in Beijing Xinhuafu Cultural Communication Co., Ltd. from Wang Jin and Zheng Wei.
HYLINK DIGITAL SOLUTIONS CO.,LTD 
