中国合营企业为深圳市湿货市场的公认营运商，于深圳市以品牌“惠民街市”营运合共16个农产品市场。CH AGRI-PROD EX (00149) and WANG ON GROUP (01222) jointly announced that on December 1, 2024...
According to Zhitong Finance APP, CH AGRI-PROD EX (00149) and WANG ON GROUP (01222) jointly announced that on December 13, 2024, an indirect wholly-owned subsidiary of WANG ON GROUP (01222) intends to sell all of the issued share capital and shareholder loans of Regal Smart Investment Limited to an indirect wholly-owned subsidiary of CH AGRI-PROD EX (00149) for a consideration of 0.15 billion HKD.
It is understood that the main asset of the target company is a 50% stake in the joint venture Shenzhen Jimao Market Co., Ltd. The joint venture primarily engages in the management of the wet goods market within the target property and subleases to tenants. The joint venture owns properties which include a total of 11 agricultural product markets located in Shenzhen City, Guangdong Province, China, with a total construction area of approximately 15,463 square meters. Several units of the owned properties are currently rented out to generate rental income.
The joint venture is a recognized operator of Shenzhen’s wet goods market, operating a total of 16 agricultural product markets under the brand "Hui Min Street Market" in Shenzhen.
CH Agricultural Products Group has been seeking opportunities to expand its wet goods market and trade business in China to maximize shareholder interests and enhance the investment value of CH Agricultural Products Group. The transaction is a valuable opportunity for CH Agricultural Products Group to expand its business territory into Shenzhen City and aligns with its overall business direction. The transaction is expected to generate synergistic benefits between the Shenzhen agricultural product market and the existing agricultural product market in China, further enabling CH Agricultural Products Group to consolidate its existing business and broaden its revenue base.
