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MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  Shanghai Zendai Property Limited    755   BMG8064K1045

SHANGHAI ZENDAI PROPERTY LIMITED

(755)
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Shanghai Zendai Property : FURTHER ANNOUNCEMENT ON DISCLOSEABLE TRANSACTION IN RELATION TO THE DISPOSAL OF EQUITY INTERESTS IN A NON WHOLLY-OWNED SUBSIDIARY IN YANTAI BY WAY OF PUBLIC TENDER

08/24/2020 | 08:13am EST

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

SHANGHAI ZENDAI PROPERTY LIMITED

上 海 証 大 房 地 產 有 限 公 司

(Incorporated in Bermuda with limited liability)

(Stock code: 755)

FURTHER ANNOUNCEMENT ON DISCLOSEABLE TRANSACTION IN RELATION TO THE DISPOSAL OF EQUITY INTERESTS IN

  1. NON WHOLLY-OWNED SUBSIDIARY IN YANTAI BY WAY OF PUBLIC TENDER

Reference is made to the announcements of Shanghai Zendai Property Limited (the "Company") dated 11 August 2020 and 19 August 2020 in relation to the Company's proposed disposal of equity interests in a non wholly-owned subsidiary in Yantai by way of public tender (the "Announcements"). Unless otherwise stated, capitalised terms used in this announcement shall have the same meanings as those defined in the Announcements.

This announcement is made to provide further information on Yantai Zhengtong Real Estate Co., Ltd* ("Zhengtong Real Estate")(煙台市正通置業有限公司), the successful bidder of the public tender. Based

on the latest information made available to the Company, Zhengtong Real Estate is owned as to (i) 60% by Mr. Zhang Maohai*(張茂海); and (ii) 40% by Mr. Hu Kailong*(胡開龍).

To the best of the Directors' knowledge, information and belief after having made all reasonable enquiries, Zhengtong Real Estate and its ultimate beneficial owners are third parties independent of the Company and its connected persons.

By order of the Board

Shanghai Zendai Property Limited

Mr. Wang Letian

Chairman

Hong Kong, 24 August 2020

As at the date of this announcement, the executive Directors are Mr. Wang Letian, Mr. Qin Renzhong, Mr. He Haiyang and Mr. Tang Jian. The non-executive Directors are Ms. Wang Zheng, Mr. Ma Yun and Mr. Wu Junao. The independent non-executive Directors are Mr. Chow Alexander Yue Nong, Dr. Xu Changsheng, Mr. Ng Man Kung, Mr. How Sze Ming and Dr. Di Ruipeng.

  • For identification purpose only

Disclaimer

Shanghai Zendai Property Limited published this content on 24 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 August 2020 12:13:26 UTC


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Financials
Sales 2019 1 349 M 174 M 174 M
Net income 2019 -1 058 M -136 M -136 M
Net Debt 2019 7 588 M 979 M 979 M
P/E ratio 2019 -0,63x
Yield 2019 -
Capitalization 684 M 88,3 M 88,3 M
EV / Sales 2018 1,20x
EV / Sales 2019 6,12x
Nbr of Employees 909
Free-Float 36,6%
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Managers
NameTitle
Hai Yang He Chief Executive Officer & Executive Director
Le Tian Wang Chairman
Jian Tang Executive Director & Senior Vice President
Chang Sheng Xu Independent Non-Executive Director
Man Kung Ng Independent Non-Executive Director