Baolilai Plans to Acquire Sheenline

2014-10-23

Baolilai (000008) disclosed its significant assets reorganization plan to take 100% of shares of Beijing Sheenline Technology Co., Ltd (Sheenline) in the form of share-issuing and cash-paying and raising matching funds. Sheenline, invested by JD Capital, would be wholly owned by Baolilai after transaction.

The above-mentioned plan was accepted by China Securities Regulatory Commission (the CSRC) on October 22nd.

Sheenline has been committed to the technology R&D, equipment manufacture and service assurance of safety monitoring, maintenance, system integration and information in the rail transit industry. After years of unremitting effort, many techniques have reached the international advanced level. Its products have been widely used by customers and are very competitive all over the world. Based on the evaluation report, its value is estimated to be 1.844 billion yuan, at the value-added rate of 381.71%.

JD Capital’s fund took over 20% of shares of Sheenline in 2011, becoming its second largest shareholder.