Summary by Moomoo AI
Conch Cement announced the acquisition of a 100% shareholding in Conch Information Engineering Company at a trading price of RMB12,640 million. The valuation of this acquisition is based on the value of all shareholders' equity as of July 31, 2023 and is measured in accordance with the Yield Act. After considering market law, revenue law and asset infrastructure, independent valuers believe that revenue law best reflects the value of conch information engineering companies. The acquisition cost is equal to the valuation and has not been adjusted. The Accounting Firm reports on the future cash flow calculations used in valuation reports to confirm that the calculations are appropriate. The acquisition and valuation report were confirmed by the Board of Directors on 12 January 2024 and provided professional advice from independent valuers and the firm of KPMG.
