Share This

Public company info - China Dili Group , 01387.HK

Input the stock code or the company name     Search  
 
 Profile   Information   Data   Financial Ratios   Profit Loss   Cash Flow   Balance   Earnings   Dividend 

China Dili Group, 01387.HK - Company Profile
Chairman Wang Yan
Share Issued (share) 8,896,000,000
Par Currency Hong Kong Dollar
Par Value 0.1
Industry Property Investment
Corporate Profile Business Summary: The Group is principally engaged in development, lease and management of shopping mall and operation of agriculture wholesale markets in the People’s Republic of China (the “PRC”). Performance for the year: The Group recorded a consolidated revenue of approximately RMB1,421.0 million (2018: RMB1,128.7 million), representing an increase of about 25.9% when compared with that of last year. Business Review Hada Acquisition In 2018, the Group announced and the Group’s shareholders approved the acquisition from New Amuse Limited (as the vendor), an associate of the Group’s controlling shareholders, for the land and properties on which the then 7 existing agriculture wholesale markets of the Group operated in the PRC, at a consideration of RMB5.4 billion (the “Hada Acquisition”). The original long stop date for the completion of the Hada Acquisition was 31 December 2018. The parties to the Hada Acquisition had agreed to extend such long stop date to 30 June 2019, 30 September 2019 and 31 December 2019 respectively for satisfaction (or waiver, if applicable) of all conditions precedent under the Hada Acquisition agreement. Announcements for these extensions had been made on 27 December 2018, 26 June 2019 and 30 September 2019 respectively. The Company was informed by New Amuse Limited before the end of 2019 that certain conditions precedents were yet to be satisfied and further time was required for the Company and New Amuse Limited to discuss alternative transaction structure(s) and/or revision(s) of the scope of the Hada target group, as such, completion of the Hada Acquisition would not take place on 31 December 2019 and the long stop date was further extended to 30 April 2020. An announcement in relation thereto had been made on 27 December 2019. As at the date of this annual report, the Company and New Amuse Limited were still undergoing the negotiation and determination of the structure of the Hada Acquisition. Further announcements of alternative transaction structure(s), if any, will be made upon the entering into of definitive agreement(s) or as and when required in accordance with the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the “Listing Rules”). Dili Fresh Acquisition In September 2018, the Company announced the potential acquisition, from the controlling shareholder, of the equity stake in Harbin Dili Fresh Agricultural Produce Enterprise Management Co. Ltd.* (哈爾濱地利生鮮農產品企業管理有限公司) (“Dili Fresh”) which owns and operates agricultural produce supermarket chain, fresh food chain and supply chain and logistics management in the PRC. A non-binding memorandum of understanding was entered into and a deposit of RMB 400 million was made in return for a 180-day exclusive period (the “Exclusivity Period”). The Exclusivity Period was extended for another 180 days on 7 March 2019 with no further deposit was made for such extension. On 29 August 2019, the Group entered into a formal sale and purchase agreement with the seller, an associate of the Group’s controlling shareholder, to acquire 19% stake in the offshore holding company which wholly owns Dili Fresh, for a total consideration of RMB 950 million (the “Dili Fresh Acquisition”). Shareholders’ approval had been obtained at the extraordinary general meeting held on 29 October 2019 and the Dili Fresh Acquisition was completed on 31 October 2019 as all the conditions had been fulfilled or waived. Details of the Dili Fresh Acquisition, including downstream expansion and synergies, were set out in the circular of the Company dated 30 September 2019. Prospects: All staff members of the Group will continue to take the Group’s mission of “empowering China’s food distribution” as their first priority and keep striving to become the most trusted provider of fresh food distribution services in China.

Information from the financial statements of listed companies

Mobile | Full
Forum rule | About Us | Contact Info | Terms & Conditions | Privacy Statment | Disclaimer | Site Map
Copyright (C) 2024Suntek Computer Systems Limited. All rights reserved
Disclaimer : In the preparation of this website, 88iv endeavours to offer the most current, correct and clearly expressed information to the public. Nevertheless, inadvertent errors in information and in software may occur. In particular but without limiting anything here, 88iv disclaims any responsibility and accepts no liability (whether in tort, contract or otherwise) for any direct or indirect loss or damage arising from any inaccuracies, omissions or typographical errors that may be contained in this website. 88iv also does not warrant the accuracy, completeness, timeliness or fitness for purpose of the information contained in this website.