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RS Macalline and China Cinda and Cinda Capital have entered into a transaction agreement for the partnership enterprise transaction.
RS Macalline (01528) announced that on August 6, 2024, the board of directors approved the signing of the transaction documents between the company and its subsidiaries (i.e. Shanghai Xingkai) and China Cinda and Cinda Capital regarding the joint venture transaction. Shanghai Xingkai, China Cinda and Cinda Capital hold 61.49%, 38.43% and 0.08% partnership interests in Tianjin Xinmei, respectively. Tianjin Xinmei will establish an SPV to complete the proposed transaction, namely SPV will acquire all the equity of Yantai Red Star for a consideration of RMB 0.98 billion. SPV will also provide a loan of RMB 1.3 billion to Yantai Red Star to repay its debt.
Red Star Macalline Group Corporation (601828.SH) plans to establish a new company with Xinda Capital to take over 100% equity of Yantai Red Star and clear outstanding loans.
Red Star Macalline Group Corporation (601828.SH) announced that the company plans to hold a stake in Tianjin Xinmei Enterprise Management Partnership Enterprise (Limited Partnership)...
Express News | Exclusive - Chinese Finance Ministry Asked State Financial Institutions to Drop Pwc as Auditor-Sources
huscoke hldgs announced receiving a liquidation application.
Huscoke Holdings (00704) announced in a statement that on August 2, 2024, the company received a winding-up petition against the company filed in the High Court of the Hong Kong Special Administrative Region on August 2, 2024. The petition was made by China Cinda (Hong Kong) Asset Management Co., Ltd. (Petitioner) under the provisions of Chapter 32 of the Hong Kong Companies (Winding Up and Miscellaneous Provisions) Ordinance with the aim of winding up the company. As of the date of this announcement, the Petitioner holds, through a wholly-owned subsidiary, convertible preferred shares of Hojun Limited, and Hojun Limited owns 100% of the company's controlling shareholder, Shun Wong Limited.
Express News | Huscoke Holdings Ltd - Winding-up Petition Filed Against Co by China Cinda (HK) Asset Management
CISI Fin Unit Disposes of $7 Million of Bonds
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