Xinhua Jin (600735): Plans To Acquire 50% Equity Of Shanghai Litchi For RMB 252 Million

Xinhua Jin (600735) announced on the evening of June 3 that it planned to purchase 50% of the equity of Shanghai Lizhi Industrial Co., Ltd. for a transaction consideration of RMB 252 million. After the acquisition, Shanghai Lizhi will become the holding subsidiary of the company. Shanghai Lizhi is positioned as an e-commerce comprehensive service provider of global high-quality consumer brands, and is one of the earliest e-commerce enterprises to carry out cross-border import in China. Xinhua brocade announced on the same day that it plans to raise no more than 360 million yuan to purchase 50% of the equity of Shanghai Lizhi Industrial Co., Ltd. and supplement its working capital.