Gelonghui September 20?Liancheng Technology Group (08635.HK) announced that on September 20, 2023, Max Bullions Limited, an indirect wholly-owned subsidiary of the company, intends to report to the seller GMO Financial Holdings, Inc. The acquisition of the entire issued share capital of the target company Jimu Huanqiu Gold Co., Ltd. for a total consideration of US $216000.
After the completion of the acquisition, the seller and the buyer shall jointly urge the target company to notify the software licensor of the changes of the shareholders and other incidental companies of the target company in time, and contact the licensee of the software licensor to obtain the software license to update the record.
It is reported that the target company is a limited company incorporated in Hong Kong, which is mainly engaged in providing precious metals trading services in Hong Kong. On the date of announcement, the target company is the registered licensee of the software license. The target company serves customers for group hardware maintenance and support.
The Directors are of the view that through the acquisition of the target company, the Group can make use of its existing ability to provide financial transaction solutions and make use of the existing expertise, customer base and network of the target company to effectively open up the market for precious metals trading services in Hong Kong. With its background in fintech engineering, the group can further develop fintech solutions, such as smart order routing and intelligent risk management, which will improve returns and provide liquidity to existing brokers using the GESTX product line. The Directors believe that the Group's new business in the precious metals trading market will help the Group to seize the opportunities of the precious metals trading industry, diversify its existing business portfolio and broaden its revenue sources.