Start Share Purchase "Bantian Five Tiger" Zhui Technology Failure

In the evening of June 14th, the announcement of the initial shares announced that the company terminated the acquisition of 88.5714% of Shenzhen Zhui Technology Co., Ltd. (hereinafter referred to as "Zhui technology"). This also meant that the initial share control was completed.

According to historical announcements, the restructuring started in April 23rd. In May 9th, the initial plan of stock reorganization was released. According to the plan, the starting stock is intended to issue shares, convertible bonds and payment of cash, to buy 88.5714% shares of Liu Zhiheng, Ma Su Ping, Changyu Shenzhen and Longyan Hao Jia. In March 31, 2019, the estimated value of the 100% equity of the target company was 1 billion 800 million yuan, and its 88.5714% equity trading consideration was initially determined to be 1 billion 594 million yuan.

According to official information, Zhui technology is one of the "five tigers of Bantian". Founded in 2003, its headquarters are located in Shenzhen, Guangdong, Zhongshan, Guangdong and Changsha, Hunan. There are warehouses in Shenzhen, Dongguan, Eastern and western United States. Zexi technology is one of the first batch of enterprises to enter the cross-border electricity export business in China. It entered the eBay platform in 2008, entered the fast selling platform in 2010, and entered the Amazon platform in 2012. At present, Zhui technology has entered many platforms including eBay, Amazon, speed sell, Wish, WAL-MART, Shopee and so on, covering more than 180 countries and regions in the world. Its products cover clothing, shoes and hats, beauty and makeup, 3C electronics, mobile phone computer peripheral products, mother and baby toys, pet products, outdoor sports, home department stores and so on. It has hundreds of thousands of products and more than 50 private brands.

According to unaudited data, in 2017, Zhui technology business income was 1 billion 760 million yuan and net profit was 82 million 260 thousand yuan. In 2018 1-9, its operating income was 1 billion 280 million yuan, and its net profit was 78 million 680 thousand yuan.