Color Life (01778) and Flower Year Holdings (01777) jointly announced that on January 2, 2024, Shenzhen Color Life Network Co., Ltd., a wholly-owned subsidiary of Color Life, plans to acquire 100% of the rights of Sichuan Sanyanghong Industrial Co., Ltd. from Chengdu Futainian Enterprise Management Co., Ltd., a wholly-owned subsidiary of Flower Life, along with accounts receivable from target subsidiaries of approximately RMB 4 million, at a total cost of RMB 3.4 million.
After the transaction is completed, the target company will hold 100% interest in Lottery Life. Since Color Life is an indirect subsidiary of Flower Year, the target company will remain a subsidiary of Flower Year.