Energy Intinv (00353.HK) announced on June 17th that it has entered into an acquisition agreement with the target company Prosperous Splendor Global Limited with seller Gu Siyu as the buyer, and the company has agreed to purchase, while the seller has agreed to sell 40% of the target company's issued share capital and shareholder loans (if any) for a price of RMB 200 million on June 17th, 2024.
According to the purchase agreement, the seller grants the company a put option. Therefore, if the actual surplus profit of the target group for the 2026/27 fiscal year is less than 70% of the third guaranteed surplus profit, the company may exercise the put option at its discretion during the effective period of the put option, requiring the seller to purchase the equity acquired by the company at the put option price, and the exercise price is equal to the total acquisition cost actually paid by the company for the equity acquired (including all interest paid on acceptance bills, if any).
The target company is a limited liability investment holding company registered in the British Virgin Islands. According to the directors' reasonable inquiries, full knowledge and belief, as of the date of this announcement, (a) the target company is wholly owned by the seller; (b) the target company owns 100% equity interest in a Hong Kong holding company, and the Hong Kong holding company is a limited liability investment holding company registered in Hong Kong; and (c) the Hong Kong holding company owns 100% equity interest of a wholly foreign-owned enterprise.
According to the information provided by the seller, the operating company: (a) is one of the leading providers of credit evaluation fintech solutions for financial institutions in China, mainly engaged in providing credit evaluation, fund matching and technology services; (b) owns 100% equity interest in Baishun Cloud, a limited liability company established in China, whose business scope includes software development, big data and AI, news technology, IoT, network and information security, data storage and processing, network equipment leasing, advertising and consulting, mainly providing technical support for the operating company; and (c) owns two other wholly owned subsidiaries that have no active business operations. According to research reports, based on revenue generated in 2022, the operating company ranks fourth among China's credit evaluation fintech solution providers, and compared with the same period in 2022, it ranks first in the revenue growth rate calculated based on loan matching business in the first three quarters of 2023.