Shanghai Qiangsheng Transportation Co., Ltd. completed the acquisition of Shanghai J.Y Ba-Shi Passenger Transport Co., Ltd. from Shanghai Jiao Yun Group Co., Ltd..
January 11, 2023
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Shanghai Qiangsheng Transportation (Group) Co., Ltd. agreed to acquire Shanghai J.Y Ba-Shi Passenger Transport (Group) Co., Ltd. from Shanghai Jiao Yun Group Co., Ltd. (SHSE:600676) for approximately CNY 690 million on November 22, 2022. The transaction was approved by Shanghai Jiao Yun Group Co., Ltd. (SHSE:600676) 14th meeting of the eighth board of directors. This transaction still needs to be submitted to the Shanghai Jiao Yun Group Co., Ltd. general meeting of shareholders and to be approved by the State-owned Assets Supervision and Administration Commission. The transaction is expected to close by December 31, 2022. For the year ended, June 30, 2022, Shanghai J.Y Ba-Shi Passenger Transport (Group) Co., Ltd. total asset is CNY 738 million ant owners equity is CNY 492 million. As on December 9, 2022, The shareholders of Shanghai Jiao Yun Group approved the deal on December 8, 2022.
Shanghai Qiangsheng Transportation (Group) Co., Ltd. completed the acquisition of Shanghai J.Y Ba-Shi Passenger Transport (Group) Co., Ltd. from Shanghai Jiao Yun Group Co., Ltd. (SHSE:600676) on January 12, 2023.
Shanghai Jiao Yun Group Co Ltd is a China-based company primarily engaged in the provision of road freight and logistics services. The Company operates primarily through four segments. The Road Freight and Logistics Services segment is mainly engaged in multimodal transport, cold chain warehousing, steel logistics, manufacturing logistics and other businesses. The Passenger Car Sales and Automotive After-service segment is mainly engaged in automobile sales, automobile accessories, repairs, maintenance technical consultation and automobile parts retail business. The Automotive Parts Manufacturing and Sales Services segment is mainly engaged in the manufacturing, research and development of key components of automotive powertrains, body and body accessory assemblies. The Other segment is engaged in other businesses. The Company mainly conducts its businesses in the domestic market.
Shanghai Qiangsheng Transportation Co., Ltd. completed the acquisition of Shanghai J.Y Ba-Shi Passenger Transport Co., Ltd. from Shanghai Jiao Yun Group Co., Ltd..