Securities code: 002558 securities abbreviation: Giant Network Group Co.Ltd(002558) Announcement No.: 2022-lin005 Giant Network Group Co.Ltd(002558)
Announcement on the progress of signing the letter of intent on investment
The company and all members of the board of directors guarantee that the information disclosed is true, accurate and complete without false records, misleading statements or major omissions.
1、 Overview of matters related to the letter of intent
On October 15, 2021, Giant Network Group Co.Ltd(002558) (hereinafter referred to as “the company”) signed the letter of investment intent with Dongzheng Ruibo (Shanghai) Investment Center (limited partnership) (hereinafter referred to as “Dongzheng Ruibo” or “counterparty”), The company intends to acquire 72.81% of the equity of Taomi group (hereinafter referred to as the “proposed transaction”) directly or indirectly held by Dongzheng Ruibo or its affiliates in cash. After preliminary communication between the two parties, the enterprise value of Taomi group is estimated to be RMB 1.5 billion, and the final transaction price will be further negotiated and determined by the two parties according to the results of due diligence. For details, see the announcement on signing the letter of intent on investment (Announcement No.: 2021-p.058) disclosed by the company on the designated information disclosure media on October 18, 2021. 2、 Progress
After the signing of the letter of intent on investment, the company actively carried out due diligence, and all relevant parties had in-depth exchanges on equity acquisition. However, in view of the changes in the market macro environment during the negotiation process and other reasons, the two parties to the transaction failed to reach an agreement on some terms of the transaction scheme, and the validity period of the letter of intent on investment has expired. After careful research and friendly negotiation with the counterparty, The company decided not to make an exclusive period agreement on the proposed transaction (see the announcement on signing the letter of intent for details of the exclusive period agreement, Announcement No.: 2021-pro 058), but both parties will continue to make further consultations on the possibility of the transaction.
As of the disclosure date of this announcement, both parties have not signed a formal cooperation agreement and other legally binding documents. The company will timely perform the obligation of information disclosure according to the follow-up progress of relevant matters. Please pay attention to the investment risk.
It is hereby announced.
Giant Network Group Co.Ltd(002558) board of directors
January 17, 2022
