Takeover Of Jay To Become Its Controlling Shareholder

yesterday

The announcement said that

The layout of offline channels, through the integration of quality resources under the line, to achieve multi brand, multi market, multi-channel layout, the company intends to invest 383 million 105 thousand yuan for the Hubei Jay sports industry development Limited by Share Ltd (referred to as "Jie Xing") part of the equity and increase its capital.

After the paction is completed, the company will hold 50.01% of Jay's stake and become its controlling shareholder.

According to introduction, Jay's trip was founded in April 2007 and is a professional retailer of sports products.

They sell internationally famous brand sports products and develop sports products through offline retail channels. Currently authorized brands have

, ADI, UA, Vance, CONVERSE and so on, the product covers all kinds of sportswear, shoes and hats, accessories, sports equipment and so on.

As of April 30, 2016, there were 265 retail outlets in Jay's trip, with a retail terminal area of 79090 square meters, including 176 retail outlets and 89 retail terminals.

Audited, as of April 30, 2016, Jay's total assets amounted to 999 million 629 thousand and 200 yuan and net assets of 192 million 933 thousand and 700 yuan.

In addition, it achieved operating income of 817 million 380 thousand and 400 yuan in 2015 and realized a net profit of 40 million and 800 yuan.

The parties confirm that the performance commitment period of the paction is 2016, 2017 and 2018. According to the performance pledge, Jay's net profit in 2016 is no less than 50 million yuan, and the net profit in three years is not less than 200 million yuan.

This purchase is an important step in the multi brand and multi-channel operation of the company, which is in line with the company's current development strategy. It also lays the foundation for the company to introduce more brands. At the same time, the acquisition will help to enhance the company's performance and will further enhance the company's retail management capability.