Financials Nov 27, 2020 07:25 PM (GMT+8) · EqualOcean
Huishang bank announced in the Hong Kong stock exchange that the contractor bank and the bank agreed that the bank should undertake liabilities equal to the book value of the acquired assets, including the books of the transferor's four branches and the corresponding liabilities matched from the head office. As of the base date of the transaction, the net book value of the assets under this acquisition and the total liabilities of the subcontractor banks undertaken by the bank were RMB 98.4 billion, the asset appraisal value was RMB 65.3 billion, and the business value was RMB 15.3 billion. The bank is not required to pay any cash consideration to the subcontractor bank for this acquisition undertaking.

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