Kunming Economic-Technological Development Zone Investment & Development Co., Ltd. signed the share transfer agreement to acquire 49% stake of Kunming Jingbai Industrial Co., Ltd from Kunming Sinobright Co., Ltd. for CNY 93.3 million.
July 21, 2016 at 12:00 am EDT
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Kunming Economic-Technological Development Zone Investment & Development (Group) Co., Ltd. signed the share transfer agreement to acquire 49% stake of Kunming Jingbai Industrial Co., Ltd from Kunming Sinobright (Group) Co., Ltd. (SZSE:000560) for CNY 93.3 million on July 20, 2016. Kunming Jingbai Industrial Co., Ltd reported total revenue of CNY 20.1 million, total assets of CNY 1.74 billion and net asset of CNY 294.75 million for the year ended December 31, 2015. As of July 20, 2016, the Board of Kunming Sinobright (Group) Co., Ltd. approved the transaction.
5I5J HOLDING GROUP CO., LTD. is a China-based company mainly engaged in the real estate business. The Company operates three main businesses. Real estate brokerage business includes second-hand house brokerage business, new house business and overseas business. The property management business is engaged in the residential leasing and property management. The commercial asset management business is engaged in the management of commercial rental operations such as department stores. The Company is also engaged in commercial retail, hotel travel services, real estate development, property services and other services. The Company conducts its business within the domestic market and to overseas markets.
Kunming Economic-Technological Development Zone Investment & Development Co., Ltd. signed the share transfer agreement to acquire 49% stake of Kunming Jingbai Industrial Co., Ltd from Kunming Sinobright Co., Ltd. for CNY 93.3 million.
5I5J HOLDING GROUP CO., LTD. 
