Chongqing Baocheng Commercial Management Co., Ltd. signed property rights transaction contract to acquire 51% stake in Chongqing Qinian Real Estate Development Co., Ltd. from Chongqing Yukaifa Co., Ltd for CNY 36 million.
June 05, 2020
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Chongqing Baocheng Commercial Management Co., Ltd. signed property rights transaction contract to acquire 51% stake in Chongqing Qinian Real Estate Development Co., Ltd. from Chongqing Yukaifa Co., Ltd (SZSE:000514) for CNY 36 million on June 5, 2020. After the completion of the equity transfer, Chongqing Yukaifa Co., Ltd no longer holds the equity of Chongqing Qinian Real Estate Development Co., Ltd. On January 22, 2020, the twenty-seventh meeting of the eighth directorate of Chongqing Yukaifa Co., Ltd reviewed and approved the deal. On April 24, 2020, the twenty-seventh meeting of the eighth directorate of Chongqing Yukaifa Co., Ltd reviewed and approved the deal.
CHONGQINGYUKAIFACO.,LTD is a China-based company principally engaged in the development and distribution of real estates. The Company's real estate development projects mainly consist of residential buildings and business communities. The Company is also involved in hotel operation, property management, house leasing, conference and exhibition services and the operation and toll collection of Shihuang Tunnel in Chongqing, China, among others. The Company operates its business mainly in the Chongqing, China.
Chongqing Baocheng Commercial Management Co., Ltd. signed property rights transaction contract to acquire 51% stake in Chongqing Qinian Real Estate Development Co., Ltd. from Chongqing Yukaifa Co., Ltd for CNY 36 million.