Changsha Urban Construction Investment Development Group Co., Ltd. completed the acquisition of 50.05% stake in Changsha Xiangjiang Wujia Lingqiao Co., Ltd. and 20.02% stake in Changsha Xiangjiang Wuyi Road & Bridge Co., Ltd. from Hunan Investment Group Co., Ltd..
June 01, 2020
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Changsha Urban Construction Investment Development Group Co., Ltd. agreed to acquire 50.1% stake in Changsha Xiangjiang Wujia Lingqiao Co., Ltd. and 20% stake in Changsha Xiangjiang Wuyi Road & Bridge Co., Ltd. from Hunan Investment Group Co., Ltd. (SZSE:000548) for CNY 93.8 million on March 26, 2020. The transfer price for the 50.05% stake in Changsha Xiangjiang Wujia Lingqiao is CNY 69.6 million and for the 20.02% stake is CNY 24.2 million. Changsha Xiangjiang Wujia Lingqiao reported total assets of CNY 67.7 million and owner’s equity of CNY 47.96 million and Changsha Xiangjiang Wuyi Road & Bridge reported total assets of CNY 33.2 million and owner’s equity of CNY 32.2 million as of October 31, 2019. The transaction is subject to approval by the shareholders and has approved by the Board of Hunan Investment Group Co., Ltd.
Changsha Urban Construction Investment Development Group Co., Ltd. completed the acquisition of 50.05% stake in Changsha Xiangjiang Wujia Lingqiao Co., Ltd. and 20.02% stake in Changsha Xiangjiang Wuyi Road & Bridge Co., Ltd. from Hunan Investment Group Co., Ltd. (SZSE:000548) on June 2, 2020.
Hunan Investment Group Co Ltd is a China-based company mainly engaged in the investment and development of urban complexes. The Company is also engaged in highway construction operations, asset management and property services and hotel investment operations. The urban complex investment and development business focuses on independent development and sales, and its business is mainly concentrated in residential real estate development, commercial real estate operations and other fields. The highway construction and operation is mainly engaged in expressway toll collection business. The asset management and property services rely on self-developed real estate projects and self-sustained commercial real estate to conduct business. The company conducts hotel investment and operations under the Junyi brand.
Changsha Urban Construction Investment Development Group Co., Ltd. completed the acquisition of 50.05% stake in Changsha Xiangjiang Wujia Lingqiao Co., Ltd. and 20.02% stake in Changsha Xiangjiang Wuyi Road & Bridge Co., Ltd. from Hunan Investment Group Co., Ltd..
HUNAN INVESTMENT GROUP CO.,LTD. 
