Beijing Capital Development Co., Ltd. (SHSE:600376) agreed to acquire 67% stake in Ningde Rongxi Real Estate Co., Ltd. from AVIC Trust Co., Ltd. for CNY 800 million on August 10, 2023. As per the transaction, Beijing Capital Development Co., Ltd. will also acquire debt of CNY 14 million. As on March 31, 2023, Ningde Rongxi Real Estate Co., Ltd. generated total assets CNY 1.4 billion and net asset CNY 1.3 billion.

Beijing Capital Development Co., Ltd. (SHSE:600376) completed the acquisition of 67% stake in Ningde Rongxi Real Estate Co., Ltd. from AVIC Trust Co., Ltd. on January 4, 2024.