Yao Wang Technology transfers 100% equity of Saturday Shoes Industry; the initial payment of 231 million yuan has been received.

NightAirdropper · 2026-03-28T03:53:41+00:00

Guangdong Yaowang Technology Group announces the transfer of 100% equity of its wholly-owned subsidiary, Foshan Saturday Shoes, the agreement has been signed with Zhejiang Zhanchuan. The total transfer price is 453 million yuan, with an initial payment of 231 million yuan already received. The remaining amount will be paid within 10 months after the business registration change.

NightAirdropper

2026-03-28 03:53:41

Abstract generation in progress

Guandian News: On March 26, Guangdong Yaowang Technology Group Co., Ltd. announced progress in the transfer of 100% equity of its wholly-owned subsidiary, Foshan Saturday Shoe Industry Co., Ltd.

According to the announcement, Yaowang Technology signed the “Equity Transfer Agreement” with Zhejiang Zhanchuan Brand Management Co., Ltd. on March 25, 2026, and received the first payment of 231 million yuan on March 26, 2026.

The total transfer price is tentatively set at 453 million yuan, of which the equity price is 408 million yuan and the tentative price for footwear inventory is 45.1446 million yuan. The first payment accounts for 51% of the total price, with the remaining equity balance to be paid within 10 months after the industrial and commercial change.

Zhejiang Zhanchuan is required to provide guarantees for the remaining payment by April 15, 2026. The transition period is from August 31, 2025, to March 31, 2026, during which the operating income and expenses of the target company will be enjoyed or borne by Zhejiang Zhanchuan.

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