Gelonghui, July 26, 丨 Qijia Holdings (08395.HK) announced that on July 26, 2024, the company's indirect wholly-owned subsidiary Hefei Qijia, the target company, existing shareholders and guarantors entered into an investment agreement. According to this, Hefei Qijia conditionally agreed to acquire 15% of the shares of the target company Anhui Zhongxian Intelligent Robotics Co., Ltd., at a delivery price of RMB 0.63 million.
According to the terms and conditions of the investment agreement, after the target company has reached its performance target for the financial year ending December 31, 2024, Hefei Qijia has the right to unilaterally decide whether to settle the additional costs by allocating HK$0.686 per share at the issue price and settling the additional cost of shares in accordance with the general authorization granted to the directors by shareholders. After completion, the financial results of the target company will not be incorporated into the group accounts.
The Group is mainly engaged in furniture and household accessories sales, distribution and leasing, distribution and licensing of intellectual property rights, providing design, consulting and furniture agency services, and operating a coffee shop. Hefei Qijia is a wholly foreign-owned enterprise established under Chinese law. It is also a wholly-owned subsidiary of the company, mainly engaged in providing software and information technology services.
The Group has been actively exploring opportunities for different investment projects and expanding the scope of investment according to market conditions. The board of directors believes that the investment target company will help the Group further develop its core business of providing software and IT services, and help the Group to seize the huge business opportunities brought by the rapid increase in demand for automation and related solutions in China.
Furthermore, the target company is a customer of Hefei Buren Vision Technology Co., Ltd., an indirect wholly-owned subsidiary of the Group, which provides software and information technology services. The acquisition will also help the Group strengthen relationships with customers, thereby obtaining more sales and business opportunities.