IMPRESSION DHP Plans to Acquire Certain Fixed Assets

Stock News
Feb 06

IMPRESSION DHP (02695) has announced that the acquirer, Wuyishan Impression Dahongpao Culture Tourism Co., Ltd. (a wholly-owned subsidiary of the Company), intends to purchase certain fixed assets from the seller, Fujian Spring Catering Management Co., Ltd. The assets involved in the transaction are the decorative assets and supporting ancillary facilities and equipment of the Impression Tianjie (Impression Jianzhou) located within the Wuyishan Dahongpao Experience Center at No. 96, Dawangfeng South Road, Resort Area, Chaboyuan, Wuyishan City, Fujian Province. As of the date of this announcement, the acquirer has not entered into any binding agreement regarding this potential acquisition. The transaction assets are investment assets under a cooperative agreement between the Company and the seller. Considering the operational results of the seller, the Company intends to terminate the cooperative agreement with the seller. To ensure the smooth implementation of the new project, guarantee its operational independence and integrity, and achieve the Company's investment return objectives on schedule, the Company has decided to repurchase the transaction assets based on the professional appraisal results of an independent third party. The potential acquisition is considered for long-term strategic development, aligns with the needs of the Company's development plan, is beneficial for optimizing the Company's resource allocation, and serves the interests of all shareholders.

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