[ET Net News Agency, 18 November 2019] Greater China Financial Holdings Limited (00431)
said its subsidiary Good Set Investments Limited has agreed to acquire the entire issued
share capital of Xin Yunlian Investment Limited (the target) and a sale loan, which will
be satisfied by way of issue of convertible notes. The acquisition consideration shall be
RMB765 million.
The principal activities of the target include e-commerce business in respect of
non-cigarette products, financial services (including micro-financing operations) and
advertising business targeted to approximately 5.6 million tobacco retailers with tobacco
monopoly qualification authorised by the State Tobacco Monopoly Administration by
leveraging tobacco channels, with the purpose of enabling such tobacco retailers to
develop their business and extending its operations to cover smokers and their families
which are customers of such tobacco retailers. (RC)