CCOOP completes key milestone in Beijing new cooperation acquisition

CCOOP Group (SZSE:000564) has announced significant progress in its acquisition of a 51% equity stake in Beijing New Cooperation Commercial Development Co., Ltd. The company has completed the equity transfer on April 14, 2025, marking a pivotal achievement following shareholder approval in late 2024. CCOOP has already disbursed 50% of the total consideration, amounting to CNY755,560,568.62. Prior to the equity transfer, all outstanding pledges on the shares held by the transferring parties were successfully removed. Additionally, Beijing New Cooperation Commercial Development Co., Ltd. recovered CNY830,613,518.67 of related party receivables prior to the transfer date. Starting from April 2025, Beijing New Cooperation Commercial Development Co., Ltd.'s financials will be consolidated into CCOOP Group’s reports, expected to positively impact the company's overall financial performance.