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An All-win acquisition and the Construction of Aijian
ReleaseDate: 2017-10-18


On July 18 and 19, Shanghai JuneYao (Group) Co., Ltd. (hereinafter referred to as “JuneYao Group”) signed a strategic cooperation framework agreement with Guangzhou Industrial Investment Fund Management Co., Ltd. (hereinafter referred to as “Guangzhou Fund”) and Shanghai Business Community Special Foundation for Patriotic Construction (Hereinafter referred to as Special Foundation for Patriotic Construction). Pursuant to the agreement, Guangzhou Fund agreed to adjust part of the proposal offering to acquire the Aijian Group (600643.SH) with indicative notice given previously, and agreed to coordinate persons acting in concert, so that the total stocks of Aijian Group obtained and held by Guangzhou Fund and its controlled enterprises and persons acting in concert through tender offer or otherwise will not be higher than the equity ratio of Special Foundation for Patriotic Construction upon the application for non-public offering of shares by Aijian Group. JuneYao Group expressed its support to Guangzhou Fund’s adjusted tender offer. 

Guangzhou Fund will recommend suitable candidates for the posts of director, supervisor and deputy general manager at Aijian Group. The three parties expressed that they will jointly support the Aijian Group and its financial platforms to be based in Shanghai and expand the listed company business at the South China base of Guangzhou. 

The agreement is signed upon consensus of the three parties, based on the principle of “an all-win acquisition and the construction of Aijian” as an active response to the state strategy of developing the Guangdong-Hong Kong-Macao Bay Area, in order to ensure a stable, sound environment for Aijian, and maintain the legitimate rights and interests of shareholders of the Group. The parties concerned agreed to prioritize the overall situation of Shanghai and Guangzhou to build a long-term, stable and profound strategic partnership, jointly promote the better development of Aijian Group’s follow-up main business to fully protect the legal rights and interests of all shareholders of the Group.