Shang Shang Shen Bought 65% Stake In Baoying, Tianjin, And Became The Largest Shareholder.

In August 2nd, members of China Fashion intelligent manufacturing technology innovation alliance,

The official announcement of the Shang Shang Shen Bei (Group) Limited by Share Ltd on the acquisition of Tianjin BAOYING Computer Machinery Co., Ltd. (China Garment Association governing unit) 65% shares and capital increase announcement is officially released.

Shang Shang Shen has invested 156 million 137 thousand and 800 yuan to acquire 65% stake in Baoying company, including 136 million 637 thousand and 800 yuan in equity acquisition and $1950 in capital increase, becoming the largest shareholder of Baoying in Tianjin.

It is reported that

The 60% equity interest of Shenzhen Baoying, limited by "Tianjin Ying Ning" (hereinafter referred to as "Shenzhen Ying Ning"), is 40% equity held by Tianjin Shang Shang Software Co., Ltd. (hereinafter referred to as "Tianjin Tong Shang").

Shang Shang Shen bought a 40% stake of Shenzhen Ying Ning holding BAOYING at a price of 84 million 84 thousand and 800 yuan, and bought a 25% stake in Tianjin with a price of 5255.30 yuan and 10000 yuan.

After the completion of the paction, Shang Shang Shen Bei will hold 65% stake in Tianjin Baoying, the largest shareholder in Tianjin, and BAOYING will become its controlling shareholder.

The announcement indicates that this investment will help promote the research and development of the intelligent application and automation technology of Shin Sebei sewing machine, realize the intelligent strategy, product structure adjustment and technology upgrading of sewing machines, and develop the application of artificial intelligence in the field of automobile and sewing processing while developing the Shenbei DAC electric control unit and automatic sewing unit. It is beneficial for our company to undertake the business of KSL Germany and further expand the high-end custom sewing equipment.

It is conducive to resolving competition and achieving a win-win situation, and is conducive to boosting the construction of "made in China 2025".

Shang Shang Shen Bei's announcement on the acquisition of 65% equity interest and capital increase of Tianjin BAOYING Computer Machinery Co., Ltd. (excerpt)

Notice date: 08, 02, 2018

The board of directors and all directors of the company guarantee that there are no false statements, misleading statements or major omissions in the contents of the announcement, and shall bear individual and joint liabilities for the authenticity, accuracy and completeness of the contents.

Important note:

Total investment: 156 million 137 thousand and 800 yuan, including 136 million 637 thousand and 800 yuan in equity acquisition and 19 million 500 thousand yuan in capital increase.

This investment does not constitute related pactions, nor does it constitute a major asset reorganization.

Limited by Share Ltd (hereinafter referred to as "company" or "Shang Shang Bei"), in order to focus on sewing equipment manufacturing industry, consolidate its leading position in the industry, promote the implementation of the intelligent strategy of sewing, realize structural adjustment and technological upgrading of products, and propose ways to invest cash and increase capital in Tianjin investment Machinery Co., Ltd. (hereinafter referred to as "Tianjin BAOYING" or "Target Corp"), becoming the majority shareholder of its 65% holding company.

The specific circumstances are as follows:

Tianjin Baoying, founded in 2006, is located in Baodi Economic Development Zone, Tianjin, with an area of about 75 thousand and 500 square meters and a building area of about 4.3 square meters.

Tianjin BAOYING and its subsidiaries have six core technologies, including software, computer, electric control, machinery, laser and intelligence, which are integrated with R & D, production and sales. The products cover two major fields of tailoring, sewing and sewing, including CAD software series, version room equipment, cutting equipment, laser equipment, etc.

, embroidery equipment, quilting equipment, computer control 8 series.

Products are mainly used in the field of personal equipment, furniture, home textiles and automotive interior processing, and are in the leading position in the country. Products and services are exported to more than 150 countries and regions around the world.

Tianjin Baoji is a national high-tech enterprise, a national intellectual property advantage enterprise, a Tianjin science and technology small and medium-sized enterprise, a Tianjin patent demonstration unit, and a Tianjin science and technology small giant unit. It has won many certificates such as the national Torch Plan industrialization demonstration project certificate and so on.

At present, Shenzhen Ying Ning Venture Investment Co., Ltd. (hereinafter referred to as "Shenzhen Ying Ning") holds a 60% stake in Tianjin Baoying, and Tianjin shareholding 40% Co., Ltd. (hereinafter referred to as "Tianjin Tong Shang") holds the share of Tianjin BAOYING 40%.

The paction has been confirmed by the trading parties that the company intends to acquire 65% stake in Tianjin BAOYING with RMB 136 million 637 thousand and 800 yuan, including the purchase of 40% stake in Tianjin Baoying, which is held by Shenzhen Ying Ning, at a price of 8408.48 yuan and 10000 yuan, and a 25% stake in Tianjin Baoying, which is still held by Tianjin, at a price of 52 million 553 thousand yuan.

The paction price is divided into three stages.

In addition, the company and Shenzhen Ying Ning and Tianjin jointly agreed that after the company paid the two share pfer price to Shenzhen Ying Ning and Tianjin, the equity ratio will be completed after the completion of the equity paction. The new and old shareholders will increase their registered capital to 30 million yuan at the price of 1 yuan of registered capital for Tianjin Bao Ying, among them: the company's capital increase is 1950 million yuan, Shenzhen Ying Ning's capital increase is 6 million yuan, and Tianjin's capital increase is 4 million 500 thousand yuan.

The total investment of the company is 156 million 137 thousand and 800 yuan, including 136 million 637 thousand and 800 yuan in equity acquisition and 1950 yuan in capital contribution.

The source of funds is the company's own funds.

The investment has been considered at the sixth meeting of the eighth board of directors of the company, and the independent directors of the company have agreed.

The relevant agreement on investment will be signed recently.

This investment does not constitute related pactions, nor does it constitute a major asset reorganization. It does not need to be submitted to the shareholders' general meeting for consideration.