Xiao Ruoyuan almost sold off Yiyi's finance (8079) at 0.08 yuan per share to Chen Ende, the "King of Cordyceps".
The price is easier to return the 20% discount before the financial suspension, and the new owner also makes an all-purchase offer to other shareholders.
Yihuan Finance resumed trading this morning. It opened at 0.199 yuan in the early part of the market, up 99%, but the turnover was only 5,590 yuan.
Chen Ende, through his wholly-owned company Baofeng Management, recently entered into a share sale and purchase agreement with Lifu Consultants (Xiao Ruoyuan is the shareholder) to acquire a 34.24% stake in Yihuan Financial Investment.
The consideration for the acquisition is 6.583 million yuan, equivalent to 0.08 yuan per sale share, and the price is paid in cash.
Baofeng Management pointed out that this acquisition is in line with the Group's strategy of developing diversified businesses, and it is believed that it can complement the advantages of Yuzhi and expand the sales channels of the retail business.
In the future, the Group will continue to seize different market opportunities and create sustained and stable growth.