Jinke Property Group Co., Ltd. (SZSE:000656) agreed to acquire 20% stake in Chongqing Hengsheng Daye Construction Technology Group Co., Ltd from Chongqing Liangjiang New District Keyi Microfinancing Co., Ltd on June 20, 2023. Chongqing Hengsheng Daye Construction Technology Group Co., Ltd reported Total assets worth CNY 2.4 billion, Total revenue of approximately CNY 900 million, Total Common equity of approximately CNY 750 million and Net Income of CNY 70 million on December 31, 2022. Transaction has already been approved by in-principle by the company?s controlling shareholder Chongqing Jinke Investment Holding (Group) Co., Ltd, Transaction has already been approved by the company?s 11th directorate during its 35th meeting, Transaction has been approved by the internal decision-making bodies of Liangjiang Keyi, Transaction has been approved by shareholders?

meeting of Hengsheng Daye, Transaction is subject to further approval by the company?s directorate after audit and valuation of Hengsheng Daye?s assets and after the deal price has been determined, Transaction is subject to approval by shareholders? meeting of the Jinke Property Group and Transaction is subject to subject to approval by Shenzhen Stock Exchange and China Securities Regulatory Commission.